We introduce a chain model for the Deligne-Mumford operad formed by homotopically trivializing the circle in a chain model for the framed little disks. We then show that under degeneration of the Hochschild to cyclic cohomology spectral sequence, a known action of the framed little disks on Hochschild cochains lifts to an action of this new chain model. We thus establish homotopy hypercommutative algebra structures on both Hochschild and cyclic cochain complexes, and we interpret the gravity brackets on cyclic cohomology as obstructions to degeneration of this spectral sequence. Our results are given in the language of deformation complexes of cyclic operads.