[Strategist: Energy Price Shock Penetrates ECB's 'Comfort Zone,' Short-Term Rate Volatility to Intensify] Jin10 News, March 19 – Global derivatives strategist Tanvir Sandhu pointed out that the energy price shock is rapidly penetrating the European Central Bank's (ECB) perceived 'comfort zone,' injecting renewed volatility into short-term rates. Even if the ECB ultimately keeps rates unchanged this year, it is reasonable for the market to price in a broader range of outcomes due to the uncertainty surrounding the duration of the conflict and the associated inflationary risks. Meanwhile, the second-round effects on economic growth could lead to an asymmetric downside risk for rates.