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Maybe good news is still bad news for markets.

First, a majority of economists are still predicting a 2023 recession, as this monthly survey from Bloomberg shows. pic.twitter.com/hxGaC5gEUN

— Jim Bianco biancoresearch.eth (@biancoresearch) January 19, 2023

NEW: Applications for US unemployment benefits unexpectedly fell last week, sliding to the lowest level since September https://t.co/yisJDsvXQB

— Bloomberg (@business) January 19, 2023

Philadelphia Fed’s manufacturing gauge remains in negative territory for 5th straight month in January https://t.co/qd3cBwTM9j

— MarketWatch (@MarketWatch) January 19, 2023

🇺🇸 Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.5% from Dec. in the first 15 days of January – Manheim
*The index rose to 222.5, which was down 13.7% from the full month of January 2022.https://t.co/Djs4fsiAnj pic.twitter.com/7uxx8Xeqvj

— Christophe Barraud🛢🐳 (@C_Barraud) January 19, 2023

December Housing Starts: Record Number of Housing Units Under Construction https://t.co/FV2YeFjiMG

The recent weakness has been mostly for single family starts; however, it appears the expected decline in multi-family starts has begun. pic.twitter.com/2FPydhMRYI

— Bill McBride (@calculatedrisk) January 19, 2023

https://t.co/fNUspmGbWx pic.twitter.com/XOCeAHr6kQ

— Bill McBride (@calculatedrisk) January 19, 2023

A year ago, two-thirds of U.S. apartment properties had ultra-high occupancy rates topping 97%. Today, that share has been cut in half to a more normal one-third.
Meanwhile, the share of properties with occupancy rates below 94% has more than doubled… pic.twitter.com/4RSjMqdvQE

— Jay Parsons (@jayparsons) January 18, 2023

🇺🇸 #Housing under construction reached a new record high in December, implying more supply by year-end and further downward pressures on #rents.https://t.co/71og3gvGsi pic.twitter.com/pxWRge0QBg

— Christophe Barraud🛢🐳 (@C_Barraud) January 19, 2023

🇺🇸 #Fed #Inflation | It suggest that market #rents are likely to fall further in 1Q23, after experiencing a contraction in 4Q22.https://t.co/vTcS67SQsg

— Christophe Barraud🛢🐳 (@C_Barraud) January 19, 2023

🇺🇸 #FED COLLINS: SHOULD SEE MODERATION IN SHELTER INFLATION IN SPRING OF THIS YEAR – RTRS

*As noted previously, market #rents point to a slowdown of CPI shelter YoY. pic.twitter.com/udUoXY8wwB

— Christophe Barraud🛢🐳 (@C_Barraud) January 19, 2023

🇺🇸 Top #Fed Officials Make Case for High Rates to Cool #Inflation – Bloomberg
*Vice Chair Brainard says need restrictive policy for some timehttps://t.co/TjHJ7gARc1 pic.twitter.com/N3jn6BhBUE

— Christophe Barraud🛢🐳 (@C_Barraud) January 20, 2023

Fed Vice Chair Lael Brainard: There are reasons to think high inflation in the more labor sensitive “core services ex-housing” basket might reflect the pass-through of pandemic and war one-offs and not solely cyclical strength from tight labor markets https://t.co/iu0sSbeq7P

— Nick Timiraos (@NickTimiraos) January 19, 2023

Fed To Deliver Two 25-Basis-Point Hikes In Q1, Followed By Long Pause – RTRS Poll https://t.co/ktLSTWMct4

— LiveSquawk (@LiveSquawk) January 20, 2023

Fed Will Face Tough Choices The Longer Debt Ceiling Impasse Persists – RTRS https://t.co/ker6ZZWjPb

— LiveSquawk (@LiveSquawk) January 19, 2023

The US Treasury has started using special measures to avoid a payments default, after the federal debt limit was reached Thursday https://t.co/Ol6mOQf4YH

— Bloomberg Economics (@economics) January 19, 2023

US trade chief is working with the EU to address EV subsidy concerns https://t.co/AIAiG0y37A via @EMPosts pic.twitter.com/LagmRxPTmP

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

US announces that it will supply Ukraine with armored vehicles, weapons systems and other hardware in latest round of military aid, a day before key defense ministers' meeting https://t.co/KsrNtnIF6T

— Bloomberg (@business) January 20, 2023

🇯🇵 #Japan's consumer #inflation hits fresh 41-year high, keep #BOJ in focus – Reutershttps://t.co/SrPYg7j7EC

— Christophe Barraud🛢🐳 (@C_Barraud) January 20, 2023

South Korea Dec producer inflation slows for sixth month https://t.co/4zwAnd1zrD pic.twitter.com/bRwZB04B26

— Reuters Asia (@ReutersAsia) January 19, 2023

🇨🇳 #China | Nearly Half of Chinese Tourists Don't Plan to Travel Overseas This Year – Bloomberghttps://t.co/hWQ7F13cU5 pic.twitter.com/NwVzaEShlm

— Christophe Barraud🛢🐳 (@C_Barraud) January 20, 2023

🇨🇳 #China Injects Record Amount of Cash This Week Before Holidays – Bloomberg
*#PBOC added 1.97 trillion yuan short-term cash this weekhttps://t.co/4UgecxIVq2 pic.twitter.com/ZSAy2s8n4d

— Christophe Barraud🛢🐳 (@C_Barraud) January 20, 2023

China keeps benchmark lending rates steady for fifth month https://t.co/lTQ5CpGOW5

— Reuters China (@ReutersChina) January 20, 2023

BoJ May Have Crafted New Tool For Post-YCC Era, Analyst Says – RTRS https://t.co/Fm173faGfS

— LiveSquawk (@LiveSquawk) January 20, 2023

日銀、前例なき債券市場管理　銀行に低利融資で購入促すhttps://t.co/E754vtEe9Z

— 日経電子版 マーケット (@nikkei_market) January 19, 2023

政府は日銀の黒田東彦総裁の後任人事案を2月に国会提示へ。アベノミクス継承を巡り、安倍派幹部は「金融緩和に積極的な『リフレ派』を排除する人事なら、こちらも動かざるを得ない」と話します。https://t.co/coZINbh3h3

— 日本経済新聞 電子版（日経電子版） (@nikkei) January 20, 2023

https://twitter.com/SStapczynski/status/1616330171648471040

For more on the subject, take a look at my short note published yesterday about the surge in Iranian oil production (and exports). A lot of that Iranian oil is ending in China, although there is known as "Malaysian oil" rather than "Iranian oil" | #OOTT https://t.co/Dt98hlZ4YT

— Javier Blas (@JavierBlas) January 20, 2023

German PPI (M/M) Dec: -0.4% (est -1.2%; prev -3.9%)
– German PPI (Y/Y) Dec: 21.6% (est 20.7%; prev 28.2%)

— LiveSquawk (@LiveSquawk) January 20, 2023

UK Consumer Mood Slides Back To Near 50-Year Low, GfK Surveys – RTRS https://t.co/rjqSqgKQuF

— LiveSquawk (@LiveSquawk) January 20, 2023

UK retail sales unexpectedly fall, finishing worst year on record https://t.co/T3U4vn4c7G via @LucyGJWhite pic.twitter.com/x8nIkPKKTA

— Zoe Schneeweiss (@ZSchneeweiss) January 20, 2023

More than half of Britain’s homes fell in value in the final three months of last year https://t.co/8zThbXnPGZ

— Bloomberg UK (@BloombergUK) January 20, 2023

Lagarde says inflation is way too high, ECB to stay the course https://t.co/VYREJGbM60 via @jrandow @cagankoc pic.twitter.com/6tliauo0C3

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

🇪🇺 Knot, Villeroy, Lane and other ECB officials have largely ignored the drop in headline, and focused on core inflation instead.
There's a long way to go before the ECB can be more relaxed on that front (chart 1), although the momentum has started to ease slightly (chart 2). https://t.co/2CfWyqtsp6 pic.twitter.com/ernnOU7n0l

— Frederik Ducrozet (@fwred) January 19, 2023

🇪🇺 ECB accounts:
"A large number of members initially expressed a preference" [for 75bp].
"Some of these members, nonetheless, expressed their willingness to agree" [on hawkish 50bp hike].
"Taking all into account, a broad majority of members supported Mr Lane’s proposal".

— Frederik Ducrozet (@fwred) January 19, 2023

BOE says banks are the most wary since the financial crisis about lending to households https://t.co/Xv2Sx4UWeJ via @tomelleryrees pic.twitter.com/j21ZYrYSFW

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

BOE Governor Bailey says a ‘corner has been turned’ on UK inflation https://t.co/gJfnokLtR1 via @tomelleryrees pic.twitter.com/11HR5By2R7

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

SNB’s Jordan reckons ‘some tightening’ is probably still neededhttps://t.co/qaP0JdeSRj via @bbenrath @flacqua pic.twitter.com/PiytyTmxFQ

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

UK’s Sunak says he wants to cut taxes once inflation is lower https://t.co/52kQlHI5HQ via @Joe_Mayes pic.twitter.com/z80nvyzjrr

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

Meloni names insider Barbieri as top Italy Treasury official https://t.co/Qlzv3o9R1X via @Alemrome pic.twitter.com/aTLvK3743J

— Zoe Schneeweiss (@ZSchneeweiss) January 20, 2023

UK household energy costs fall faster as gas prices tumble https://t.co/U1bZElhUYU via @CeliaBergin pic.twitter.com/BIOlJ4tiC7

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

Emmanuel Macron is planning a trip to China to discuss energy, trade and Russia’s war against Ukraine with President Xi Jinping, sources say https://t.co/4iNxzSau9l

— Bloomberg Economics (@economics) January 19, 2023

Brexit customs deal close as UK-EU talks poised to intensify https://t.co/9Ovg5RNx5g via @EllenAMilligan @albertonardelli @kitty_donaldson pic.twitter.com/qQBIVmLnFM

— Zoe Schneeweiss (@ZSchneeweiss) January 19, 2023

French unions called for renewed strikes on Jan. 31 to step up pressure on President Macron to scrap an increase in the minimum retirement age to 64 from 62 https://t.co/aPwNZ2EhtB

— Bloomberg (@business) January 19, 2023

⚠ #WeekAhead: Week 3 (2023) ⚠

🇨🇭 🌎 #Davos #WEF
🇯🇵 #BOJ Meeting
🇪🇺 #ECB Minutes
🇺🇸 #FOMC Beige Book
🇺🇸 U.S. Data
🇨🇳 #China GDP
🇨🇳 Chinese New #LunarYear Starts
…https://t.co/nFTFy2FYEz

— Christophe Barraud🛢🐳 (@C_Barraud) January 16, 2023

🌎 Global #Property Market Faces $175 Billion Debt Spiral – Bloomberghttps://t.co/jXJpAyVcpx pic.twitter.com/I23RTtrvyg

— Christophe Barraud🛢🐳 (@C_Barraud) January 20, 2023