10AM Hour: Contrarian Rate Call, Accenture CEO, Street Reaction to Micron Results 10/1/26

Rising bond yields reflect a stronger-growth narrative more than renewed inflation fear, complicating the Fed's next move.

• Jobs data stays strong: Initial jobless claims fell to 197,000 (lowest since July); Challenger layoffs hit 43,281 in September, fewest for that month since 2022, down ~40% YTD vs 2025.
• Bond yields surge on growth, not just inflation: 10-year approached 5.34% overnight; Citi's Scott Chronert says equities face a 'Jackson Hole pivot' back to mega-cap leadership and expects only one more Fed hike before a mid-2027 pause, setting up a year-end rally.

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