The US Daily Cash Surplus for 7/26/2013 was $0.8B dropping the June deficit through 26 days to $96B with 3 business days left. It seems likely that the deficit will fall a bit further on strong Monday and Wednesday revenues and no large payments looming…. I would normally guess $5B, but it could be a bit more depending on whether or not revenues from the state come through for unemployment. Last July, we saw over $8B from the state in this revenue category…this July, we have only seen $1.3B so far. $7B seems like a pretty steep drop, though admittedly, this series is a bit difficult to predict. So…I would not be shocked if we got a $5B or so bump in addition to the $5B I would have expected. If we don’t….well that would be interesting I suppose.
