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Thursday, June 24, 2021

Goldman Sachs seem perplexed about the timing of the release of the US budget (Friday 28 May 2021 US time)

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Goldman Sachs seem perplexed about the timing of the release of the US budget (Friday 28 May 2021 US time)






























































I can’t say I disagree with the squid on their apparent incredulity, from a client note (bolding mine):

  • The budget looks likely to be released at 1:30pm tomorrow (May 28). 
  • Traditionally, the Treasury’s Green Book follows shortly after the White House budget. We note that the timing of this release itself has significance. 
  • The White House has decided to release what is arguably the most important policy document of the year on a Friday afternoon before a 3-day weekend at the start of a congressional recess, when it is likely to receive little attention, rather than the traditional Monday morning release when Congress is in session. 
I can't say I disagree with the squid on their apparent incredulity, from a client note (bolding mine):


















































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