Bond trader Ed Bradford said Friday he expects the Federal Reserve to hold off on an interest rate hike at its July 28-29 meeting, provided the June Consumer Price Index prints as expected. He noted that market-implied odds for a July hike pulled back to around 20% following tepid job gains and inline FOMC minutes. Bradford anticipates any lingering uncertainty will be resolved once the inflation data is released next week, with consensus estimates forecasting headline CPI to decline 0.1% month-over-month after a 0.5% increase in May, while core CPI is expected to tick up 0.3% versus 0.2% previously. Prediction markets Kalshi and Polymarket both price the probability of a pause at about 85%, with a 25-basis-point hike seen at 13% on Kalshi and 15.3% on Polymarket.