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🇺🇸 TREASURY DROPS A BOMBSHELL: AMERICA NEEDS TO BORROW $53B LESS THAN EXPECTED Surprise! The Treasury just announced they need to borrow $514 billion this quarter - still a massive sum, but shockingly $53 billion LESS than they forecast back in February. What's happening? @DOGE appears to be working. Tax receipts are tracking above last year while spending is at the lower end of historical ranges. Meanwhile, the debt ceiling drama continues. Treasury's cash balance has collapsed from $850B to $406B as they burn through reserves while Congress plays chicken. DB's Steven Zeng just pushed his "x-date" estimate (when America effectively goes broke) from late July to mid-August. Breathing room, but not much. Bond markets are loving it - yields sliding to session lows at 4.21%. Source: @zerohedge
MarioNawfal ↗