The US Daily Cash Surplus for Wednesday 4/16/2014 was $2.1B bringing the April 2014 surplus to $14B through 16 days.
Yesterday I mentioned that it was a good day with one lingering question…was the spike in taxes not withheld timing, or the start of a new surge? For now…the answer seems to be timing. To recap, 4/15/2013 had ~$5B of taxes not withheld compared to 4/15/2014 at ~$19B….an impressive, and unprecedented gain. However 4/16/2013 came in at $23B compared to 4/16/2014 at only $10B…giving up just about all of yesterday’s gain. Never fret…there is still plenty of time left for new surprises, but for now…eh….definitely some signs of weakness. For the month, revenues are up 7%. Not shabby by any stretch, but not as exciting as the +15% we were looking at yesterday.
No more reports until next week on account of Easter. Tuesday is the next big day. I’m not versed enough in the tax deadlines to understand why, but the 4th Tuesday of April looks to have a revenue spike every year…Last year taxes not withheld on Tuesday 4/23/2013 came in at $47B…the highest day of the year, so the 2014 over under will be interesting if nothing else.