11AM Hour: FCC Chairman Brendan Carr, Apollo's Torsten Slok & Macao Gambling Revenue Lags 10/9/26

AI investment is propping up roughly half of US GDP growth, but widening CDS spreads suggest markets are starting to question the speed of AI payoffs.

• Apollo's rate call: Torsten Slok says AI is driving roughly 1 of the economy's 2 percentage points of GDP growth and is insensitive to rates, so long rates face more upward pressure even as housing and autos weaken under 7.2% mortgage rates.
• AI cash-flow risk flagged: Slok says CDS spreads on AI names and hyperscalers have widened, signaling markets are starting to price risk that data-center revenue payoffs arrive slower than expected.

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