10AM Hour: Stocks Pull Back from Records, SpaceX Raising Money to Buy Nvidia Chips, New McKinsey Report on Job Impact from AI 10/7/26

Rising rates, AI-debt crowding-out fears, and a $40 billion SpaceX-NVIDIA chip bond highlight how AI capex is straining credit markets even as McKinsey projects net job gains by 2035.

• Rates hit multi-decade highs: 10-year Treasury yield touched its highest since April 2002; 30-year mortgage rose to 7.49%, a near-three-year high, as a $39 billion 10-year note auction loomed.
• SpaceX's $40 billion chip bond: Apollo and banks are in early talks to finance SpaceX's purchase of roughly $40 billion in NVIDIA GPUs, following its June IPO ($80B raised) and a $25B bond two weeks later.

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