Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
FxWirePro- Major Crypto levels and bias summary 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
While all the focus is on payroll numbers or weak inflation pushing rate hike expectation from FED further into the future. However one measure is showing that US economy may not be roaring but more than humming and recovery is solid.
- Government budget deficit, which is the difference between government expenditure and tax revenue collected dropped to lowest level since 2007,
- It has narrowed to $439 billion, or 2.5% of GDP, for 12 months to end September, compared to $483 billion a year ago.
According to treasury department, lesser gap was achieved thanks to 8% rise in tax revenue to $3.25 trillion from a year ago.
- According to the treasury, stronger economy led to higher income for individuals and higher profits for corporates, which led to rise in payroll taxes as well as revenue from business.
However, US economy is still running large deficit, which needs to be financed by large issuance of treasury debt and if the congress fails to increase the debt limit by November 3rd, US economy is heading for is first default.
