US starts 2027 fiscal year with record October budget deficit of $404 billion
FROM THE WIRE · REUTERS.COM
The US government started the 2027 fiscal year with a $404 billion budget deficit for October, a record for the month and $120 billion, or 42%, higher than the year-earlier period, as receipts shrank and outlays grew sharply, the Treasury Department said on Thursday.
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA record monthly deficit growing sharply can fuel debt concerns and pressure Treasury yields.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The October deficit was $404 billion, a record for the month.
- 02It is $120 billion, or 42%, higher than a year earlier.
- 03Receipts shrank and outlays grew sharply, per the Treasury.