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May 14, 2026 - The Gamma-Fueled Melt-Up: Credit Cracks Beneath the Rally
Markets are melting up, record highs are back in play, and investor sentiment is starting to feel almost unstoppable. But beneath the surface, credit markets are telling a very different story.
In this episode of Market Pulse by Orestes Capital, we break down the tension between a gamma-driven equity rally and the growing signs of stress showing up in credit. We discuss why dealer positioning, volatility suppression, and forced hedging flows can keep stocks levitating — even as cracks begin to form underneath.
This is the market setup investors cannot ignore: a melt-up that feels bullish on…
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