Not as large as expected

  • Deficit was $226B last May
  • Outlays $596B vs $573B a year ago
  • Receipts $464B vs $174B a year ago
  • Fiscal year to date deficit at $2.064T vs $1.880T a year ago

There were estimates as high as $250B, so there's another reason for the bid in bonds. In any case, these numbers are still eye-watering.