Good afternoon. We’re some 45 days away from the 2026 midterms. Most media observers – recalling with well-earned humility how they felt after the “red wave” of 2022 turned into a mild reddish ripple – are refraining from giving apocalyptic predictions about November. That said, it doesn’t look good for Republicans, as the two other pieces in today’s newsletter by Jonathan Draeger and Carolina Lumetta detail.