WASHINGTON – The federal government posted a $91.9 billion budget deficit in December, the Treasury Department reported today.
Tax receipts took in $218.9 billion as government outlays totaled $310.8 billion for the month.
Economists polled by Thomson Reuters expected a $92.0 billion budget deficit for December, according to the median estimate.
The Manhattan-based Ivy League university reached a settlement with the federal government last year. It is selling $487 million of bonds this month.
"The rates market has started to turn from the upper end of the trading range this week," Barclays strategists wrote, but with the war with Iran still driving the market, nothing is certain.
Changes in federal funding are sharpening the focus on how the states will be responding to disaster relief, running social programs and budget planning.
The defendants include many of the largest municipal bond underwriters.
The deal comes as high-yield muni investors are hungry for paper.
Nearly 21% of muni volume traded electronically in the first quarter, up from the previous quarter and surpassing the previous record set in the fourth quarter of 2023, according to a Coalition Greenwich report by Kevin McPartland and Neha Jain.
