The US Daily Cash Deficit for Thursday 4/3/2014 was $29.3B bringing the April Deficit through 3 days to $62B, which is quite common given that a lot of monthly outlays are heavily front loaded.
As is standard, I have taken the liberty of aligning 2013 and 2014 on day of week rather than day. It’s not perfect, but many of the inflows are driven by day of week, giving us a better YOY comparison throughout the month. So at this point, we are comparing April 2014 through Thursday the 3rd with April 2013 through Thursday the 4th. Since 2013 has an extra business day, this early in the month, it is not a big surprise that revenues are down by about $10B, as are outlays.
We’ll just leave it at that for now. It’s too early in the month to really see anything, and the real fireworks don’t kick of until the 15th anyway….so stay tuned.