The US Treasury's cash balance hit a six-week high driven by quarterly tax receipts and other factors.

[the US Treasury Department's cash balance hit a six-week high driven by quarterly tax payments and other factors] the amount of money used by the US government to pay bills rose the most in more than a year on Thursday, thanks to the receipt of quarterly taxes and the settlement of mid-month treasury bonds through tender. The Treasury's cash balance rose to $250 billion on Thursday, the highest level since April 28, according to data released on Friday. The increase of about $116 billion from the previous day was the biggest jump since the tax filing deadline in April 2022, when the Treasury received unexpectedly large payments related to the annual income tax filing deadline. On June 15th, corporate taxes totaled about $39.5 billion.