US DATA: Sept-10 Tsy budget -$34.5b vs -$45.2b in Sept-09, and this puts
the FY10 total at -$1.294T vs -$1.416T in FY09. CBO ests receipts are
rising and re-estimated TARP outlays lower, both favorable for the
outlook. Prelim FY11 budget is est at -$908B, assuming tax cuts expire,
and this suggests Tsy financing amounts can continue to be lowered.
FY11, of course, started Oct 1. In Sept, US Tsy’s MBS holdings -$158m.