Rating performance trends were mixed last week and credit pricing moved wider. Increased defaults and downgrades were countered by positive outlook and CreditWatch trends . This week's focus will be on the ongoing earnings season and in particular results from some high-profile tech companies. Following Friday's very strong U.S. payrolls number, this week's economic release schedules for the U.S. and Europe are relatively sparse. Germany will release production data for 2023 (on Wednesday), adding to the picture of weak trade data that was published today (Monday). A range of global purchasing manager indices (PMIs) will also be released over the course of the week, while China's consumer and producer price inflation figures for January will be closely watched due to deflation concerns.