by Dan Zalipski
February was a wild ride as the volatility from January continued through February. Starting on February 12th, almost in unison though, equity markets, credit markets, and the price of oil all began to trend higher to rally through the end of the month. The last three weeks have seen many major global indexes trim losses from their year-to-date lows. Oil prices have rebounded from their year-to-date lows as well, increasing nearly 40% in the past three weeks. Credit spreads, while still elevated, have also begun to retrace their steps signaling that perhaps conditions are not as dire as the markets once perceived.