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Intraday Economic News: Treasury Budget Deficit Narrows To $57.6 Billion In May Jun 11
Standard & Poors, June 2011
Abstract
The Treasury budget deficit narrowed to $57.6 billion in May, almost one-third narrower than the $139 billion deficit seen in May 2010 and much more narrow than market expectations. Receipts climbed more than 19% over last May while outlays dropped 17.7% from a year ago, largely because of reduced Troubled Assets Relief Program (TARP) payments. The Treasury budget deficit is $927.4 billion year to date, a bit narrower than the $935.6 billion deficit for the same period last year. Although the reading was better than what markets expected, investors are more interested in the New York Fed announcement that the Fed is doing it final round of purchases of U.S. Treasuries for its quantitative easing program. Markets are wondering what...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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