yields on shorterdated treasuries rose and us money markets shifted to price in three quarterpoint increases in the federal reserve’s policy rate by the end of 2022 following the latest decision by officials overnight index swaps tied to meeting dates of the us central bank’s policy committee moved to higher rate levels with the level on the contract corresponding to the december 2022 meeting at one point reaching more than 83 basis points  75 basis points higher than the effective federal funds rate of 8 basis points  before slipping slightly to around 82