Fed funds upper bound above 3.75% post-July sits at long-shot odds

Name: Fed funds upper bound above 3.75% post-July sits at long-shot odds
Creator: ClearMarket
Published: 2026-07-07T10:52:51+00:00
License: https://creativecommons.org/licenses/by/4.0/

15% · $16K 24h

record: CMSIG20260707VS07 | category: volume-spike | target: CM-EVT-PHWX2H6DM5 | published: 2026-07-07

4-bullet brief | narrative

15% implies Kalshi traders see residual but minority risk of the Fed funds upper bound clearing 3.75% after July.
$15.8K in 24h, 41% of all-time, is modest in absolute terms but signals renewed rate-path attention.
Consistent with Spike 2 (50+ bps hike at 0%): the market prices a constrained hiking path, not zero risk.
Resolves on the Fed funds upper bound exceeding 3.75% following the July 2026 FOMC decision.

atomic briefs | structured for retrieval

[01] volume_anomaly

liquidity kalshi_vol_24h: $15.8K

evaluation

The model, prompt version, and confidence behind this wire are published below — so you can see how it was judged, and re-check it yourself.

judge_engine: llm_judge_cm_signal_v1
judge_verdict: wire_eligible
judge_confidence: 0.81 / 1.00
prompt_template: volume_spike_v1 github · auditable

citation graph

Every wire traces back to the ClearMarket event it is built on, and out to each venue’s own market page — so any figure here can be verified at its source.

internal

cm_event: /events/kxfed-26jul/

external

venue_a: https://kalshi.com/markets/KXFED-26JUL-T3.75

programmatic access · four surfaces, same payload

AI grounded search reads embedded JSON-LD in HTML. Developers query REST. Agentic AI clients (Claude Desktop, Cursor) call MCP tools. AI crawlers index via /llms.txt. Same canonical record at every surface.

HTML	browsers, AI grounded search, crawlers (contains embedded JSON-LD `@type: Dataset`)	`https://clearmarket.fyi/signals/will-the-upper-bound-of-the-federal-fund-vol-15843/`
JSON	REST API for developers	`https://clearmarket.fyi/signals/will-the-upper-bound-of-the-federal-fund-vol-15843.json`
MCP	agentic AI tool call (Claude Desktop, Cursor, Continue)	`clearmarket.get_signal("will-the-upper-bound-of-the-federal-fund-vol-15843")`
AGENT	AI crawler discovery index	`/llms.txt`

 PM data: platform APIs (hourly refresh). News context: retrieved with source citations. Editorial judgment: LLM judge with prompt template versioned per wire type. Per-claim provenance inline above; full per-field provenance map at the JSON endpoint under field_provenance.
  raw JSON record · same payload returned by REST endpoint
 {
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "provenance_version": "0.2.0",
  "record_id": "CMSIG20260707VS07",
  "published_at": "2026-07-07T10:52:51+00:00",
  "detection": "volume_spike",
  "category_tag": "VOLUME_SPIKE",
  "secondary_tags": [],
  "pre_news_classification": "pre_news",
  "target_event_id": "CM-EVT-PHWX2H6DM5",
  "target_event_slug": "kxfed-26jul",
  "event_question": "Federal funds rate upper bound, July 2026 meeting",
  "bullets": [
    "15% implies Kalshi traders see residual but minority risk of the Fed funds upper bound clearing 3.75% after July.",
    "$15.8K in 24h, 41% of all-time, is modest in absolute terms but signals renewed rate-path attention.",
    "Consistent with Spike 2 (50+ bps hike at 0%): the market prices a constrained hiking path, not zero risk.",
    "Resolves on the Fed funds upper bound exceeding 3.75% following the July 2026 FOMC decision."
  ],
  "atomic_claims": [
    {
      "type": "volume_anomaly",
      "provenance": "24h + cumulative volume direct from kalshi API; intensity = 24h/cumulative (derived)",
      "field_provenance": {
        "volume_24h_usd": {
          "tier": "direct",
          "method": "kalshi_api"
        },
        "intensity": {
          "tier": "derived",
          "method": "arithmetic",
          "inputs": [
            "volume_24h_usd",
            "volume_cumulative_usd"
          ]
        }
      },
      "liquidity_context": {
        "kalshi_vol_24h_usd": 15843.69
      }
    }
  ],
  "evaluation": {
    "judge_engine": "llm_judge_cm_signal_v1",
    "judge_verdict": "wire_eligible",
    "judge_confidence": 0.81,
    "prompt_template": "volume_spike_v1"
  },
  "citations": {
    "internal": {
      "cm_event": "/events/kxfed-26jul/",
      "related": []
    },
    "external": {
      "venue_a": "https://kalshi.com/markets/KXFED-26JUL-T3.75",
      "venue_b": null,
      "benchmark": null
    }
  },
  "sources": [
    {
      "label": "ClearMarket market record: Federal funds rate upper bound, July 2026 meeting",
      "url": "https://clearmarket.fyi/events/kxfed-26jul",
      "retrieved_at": "2026-07-07T10:52:51+00:00"
    }
  ],
  "field_provenance": {
    "pm_data": "kalshi_api",
    "news_context": "retrieval_grounded",
    "editorial_judgment": "cm_signal_llm_judge"
  }
}
 
   PROVENANCE PROTOCOL v0.2 · [direct] venue api · [mediated] grounded web fetch + source url · [derived] computed from listed inputs · [editorial] versioned llm judgment · full spec /schema/provenance/v1

record CMSIG20260707VS07 published 2026-07-07T10:52:51+00:00 signature sha256-744b3a078ff… ← underlying event all signals →