The US Daily Cash Deficit for 9/4/2013 was $3.3B pushing the September 2013 deficit through 4 days to $38B compared to just $3B over the comparable period in 2012. Revenues…up $4B yesterday YOY lose a bit of ground…are now at $+3B, a 10% YOY increase, but honestly, this early, there isn’t much predictive value with only 2 data points.
There really shouldn’t be much action over the next week…just moderate daily deficits with the occasional moderate surplus. We’ll probably hit next Thursday with an additional $15-20B of deficit, just say $55B. Then, Friday 9/14 and especially Monday 9/17, tax revenues will start pouring in. Last year over the similar 2 day period, we ran an 84B cash surplus …it will be very interesting to see how this year turns out.