Brad McMillan, Commonwealth’s CIO, recaps February’s market and economic news. After a strong January, markets softened in February. U.S. markets were down by low single digits, international markets dropped, and emerging markets performed worst of all. The primary drivers were the disappointing inflation data and rising longer-term interest rates. Still, job growth exceeded expectations, and service sector business confidence bounced back. Is a recession less likely as the economy improves? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.