Consumer Confidence for the month of June missed expectations by a mile on Tuesday morning as the headline reading dropped from 131.3 down to 121.5. That 9.8-point decline is tied with last December for the largest m/m decline since August 2011. Not only was the decline notable, but the magnitude of the miss relative to expectations (121.5 vs. 131.0) was the largest since June 2010. While headlines surrounding trade and Iran can understandably hurt sentiment, the fact that the stock market was bouncing off the June 3rd lows during this period and had no positive