Moe’s Market Memo – October 9, 2026

Weekly data-driven insights on the markets and economy

Mohammad Abouchleih, MBA, CIMA®
Senior Investment Consultant

Inflation Anxiety Builds

This week, reports showed that consumers are growing increasingly concerned about inflation, with the New York Fed’s one-year inflation expectation rising to 3.9%, its highest level since May 2023. Higher energy costs, including rising gasoline and utility prices, are driving expectations for increased household spending and keeping inflation well above the Fed’s 2% target. While markets expect policymakers to hold rates steady this month, persistent inflation concerns, and rising Treasury yields, suggest interest rates could remain elevated for years to come.¹

Disney’s Streaming Touchdown

On Wednesday, Disney announced that it will stream the 2027 Super Bowl on Disney+, marking the first time the company’s flagship streaming service will carry the NFL championship game. The move underscores the growing importance of live sports in the streaming wars, as media companies increasingly use premium sports rights to attract subscribers and strengthen engagement. With Super Bowl advertising already selling out at a record pace, the event is poised to become a major milestone in Disney’s direct-to-consumer strategy.²

Housing Freeze Deepens

An article reported today shared that the housing market remains under pressure as 30-year mortgage rates climbed to 7.49%, their highest level in nearly three years, driving overall mortgage demand lower. Refinance applications fell 56% from a year ago, while purchase applications dropped 15%, highlighting how elevated borrowing costs continue to erode affordability and sideline both homeowners and prospective buyers. With more borrowers turning to adjustable-rate mortgages to reduce initial payments, the market remains constrained by a combination of high rates, affordability challenges, and limited refinancing opportunities.³

Credit Crunch Ahead

Earlier this week, JPMorgan CEO Jamie Dimon warned that rising government borrowing costs, increasing capital demands tied to artificial intelligence investments, and a global bond selloff could eventually tighten access to corporate credit. As Treasury yields reach levels not seen in decades, companies may face higher refinancing costs and wider credit spreads, particularly in riskier segments of the debt market. The warning comes amid growing signs of stress in leveraged loans and high-yield debt, underscoring concerns that today’s higher borrowing costs could evolve into a broader corporate financing challenge.⁴

Media Mega-Merger

Kicking off the week, Paramount’s $110 billion acquisition of Warner Bros. Discovery officially closed, creating a new entertainment giant and capping a yearlong takeover battle marked by competing bids, legal challenges, and regulatory scrutiny. Led by CEO David Ellison, the deal brings together major film studios, cable networks, and streaming assets under one roof as media companies seek greater scale to compete in an increasingly streaming-driven landscape. The merger highlights the industry’s accelerating consolidation trend and could reshape the competitive dynamics among traditional media companies, streaming platforms, and sports rights holders.⁵

Higher Fares, Thinner Margins

A report released this week showed that airfares continue to climb, with ticket prices up more than 23% year over year, as airlines pass along soaring fuel costs and benefit from resilient travel demand. Yet higher fares are not translating into stronger earnings, as elevated jet fuel prices, capacity constraints, and rising operational expenses continue to squeeze margins and prompt carriers to lower profit expectations. The dynamic highlights a challenging environment in which consumers face higher travel costs, while airlines struggle to convert robust revenue growth into meaningful profitability.⁶

[i] Cox, Jeff. “Inflation Fears on the Rise as One-Year Outlook in Fed Survey Hits Highest Level Since May 2023.” CNBC, 7 October 2026, https://www.cnbc.com/2026/10/07/inflation-fears-on-the-rise-as-one-year-outlook-in-fed-survey-hits-highest-since-may-2023.html. Accessed 7 October 2026.
[ii] Marangi, Catriona. “Disney+ to Stream Upcoming Super Bowl.” CNBC, 7 October 2026, https://www.cnbc.com/2026/10/07/disney-stream-super-bowl-2027.html. Accessed 7 October 2026.
[iii] Olick, Diana. “Refinance Demand Is Now Half What It Was a Year Ago, as Mortgage Rates Rise Again.” CNBC, 7 October 2026, https://www.cnbc.com/2026/10/07/mortgage-rates-sit-at-nearly-3-year-high-and-demand-continues-to-shrink.html. Accessed 7 October 2026.
[iv] Hollerith, David. “JPMorgan CEO Jamie Dimon Sharpens Warning About a Corporate Credit Squeeze: ‘The Market Will Ask for More.’” Yahoo Finance, 7 October 2026, https://finance.yahoo.com/markets/article/jpmorgan-ceo-jamie-dimon-sharpens-warning-about-a-corporate-credit-squeeze-the-market-will-ask-for-more-151359247.html. Accessed 7 October 2026.
[v] Marangi, Catriona. “Paramount’s Hard-Fought Takeover of Warner Bros. Discovery Closed Tuesday. Here’s How We Got Here.” CNBC, 6 October 2026, https://www.cnbc.com/2026/10/06/paramount-wbd-deal-timeline.html. Accessed 7 October 2026.
[vi] Josephs, Leslie. “Why Airfares Could Rise Even More, but Airline Profits Won’t.” CNBC, 5 October 2026, https://www.cnbc.com/2026/10/05/airfare-prices-airline-profits.html. Accessed 7 October 2026.