9AM HOUR: Playbook for Q4 and October, Micron CEO Exclusive, Bond Sell-off Accelerates 10/1/26

Micron's record quarter and tight AI memory supply didn't move the stock, while surging 10-year yields (5.32%, highest since 2002) pressure the broader market.

• Micron's beat, muted reaction: Q4 revenue hit $133B (+250% y/y) with gross margin at 86.25% guided for FQ1, but shares fell as investors fixated on incentive-comp costs rather than the 10 new strategic supply agreements (up from 16 to 26 since August).
• Bond rout intensifies: The 10-year yield hit 5.32-5.34%, levels unseen since 2002, after the worst quarterly bond performance in ~22 years; 30-year mortgage printed 7.6%, refis down nearly 9%.

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