The US Daily Cash Surplus for Monday 2/24/2014 was $7.5B on strong revenues and a $3B drop in the pace of refunds. This drops the February 2014 deficit through 24 days down to $147B with 4 days remaining….still within striking distance of $200B.
As expected, refunds were volatile, dropping from $9.7B last year Monday 2/25/2013 to $6.7B yesterday (Monday 2/24/2014). What I didn’t expect was $3.3B of corporate tax receipts. Glancing back at past February corporate taxes, they generally trickle in at ~100M a day, building up to the 15thish when $2-3B is received before tapering back down. February is not a big corporate tax month..2013 had $5.3B. We already saw our mid period bump, so I have no clue where this $3.3B came from…..maybe the WhatsApp guy cashed out???nah…too soon 🙂