A post by @FirstSquawk on X.

The U.S. federal budget balance came in at a deficit of $404.064 billion, far wider than the $317.5 billion shortfall forecast and a sharp reversal from the prior $27.00 billion figure. The gap of roughly $86.6 billion versus consensus points to weaker-than-expected receipts or heavier outlays during the period. The print matters because it feeds directly into Treasury borrowing needs and the pace of bill and coupon issuance, which in turn shape liquidity conditions across funding markets. Watch next for the Treasury's upcoming refunding and auction schedules, along with whether subsequent monthly receipts data confirm the deterioration as structural rather than timing-related.