Benchmark · daily · $bn

Treasury cash injection/drain

How much cash is the Treasury injecting into or draining from the private sector each day?

Treasury cash injection is the daily net flow between the government and the private sector: withdrawals (spending) minus deposits (revenue). A positive day means the Treasury put more cash into the economy than it took. negative means the opposite. The cumulative line sums the last 20 business days to show the Treasury's net liquidity impact over a rolling month.

Readingsdaily

Withdrawals: 22.16$bn
Deposits: 14.54$bn
Daily net injection: 7.61$bn
13-week injection change: +0.21 $bn; from 7.40
Balance percentile: 67th; of 3416 readings · since 2013-01-02

Daily net injection

20bd cumulative injection

Withdrawals

Deposits

Treasury cash injection/drain: summary statistics (Max range)
Series	First	Latest	Min	Max
Daily net injection	8.27	7.61	-262.78	271.77
20bd cumulative injection	8.27	-215.84	-624.45	504.40
Withdrawals	39.94	22.16	-1.34	582.55
Deposits	31.67	14.54	-0.31	571.15

Source: U.S. Treasury
Series: injection-daily injection-cumulative injection-withdrawals injection-deposits
Frequency: daily
Data through: 7 Aug 2026
Refreshed: 11 Aug 2026

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How this is calculated

Formula

daily injection = withdrawals minus deposits, in $bn

Daily net injection = withdrawals minus deposits (DTS Table II), millions to billions. Positive = Treasury injects cash. negative = cash drains. The rolling 20-business-day cumulative line is also plotted.

As of 7 Aug 2026, the latest reading is 7.61 $bn. That is up 34.99 $bn over the past year and above its long-run median of 0.87 $bn.

Source series

U.S. Treasury

Plottedinjection-dailyDaily net injection$bn · daily · Not seasonally adjusted Plottedinjection-cumulative20bd cumulative injection$bn · daily · Not seasonally adjusted Plottedinjection-withdrawalsWithdrawals$bn · daily · Not seasonally adjusted Plottedinjection-depositsDeposits$bn · daily · Not seasonally adjusted

How to read it

What a positive or negative injection means

A positive net injection means government spending exceeded receipts. The Treasury is a net cash source for the economy. Negative means a tax date temporarily drained cash. The cumulative line smooths the daily sawtooth.

Limitations

DTS transactions report with a one-day lag. The Fed's own operations are not included. Treat the chart as context for Treasury cash flows, not investment advice.

How this benchmark is used

The tax-date liquidity drain

Quarterly tax dates pull hundreds of billions into the TGA in one day. The cumulative line shows how quickly the Treasury re-injects that liquidity.

Frequently asked questions

4 answers

What is the current treasury cash injection/drain?

As of 7 Aug 2026, the latest reading is 7.61 $bn. That is up 34.99 $bn over the past year and above its long-run median of 0.87 $bn.

How often is this benchmark updated?

This benchmark is built on daily data. The page is refreshed when the source publishes new observations; the freshness block below the chart shows the exact data-through date and when PIER20 last fetched the file.

What data sources does this chart use?

The chart is built from Daily net injection, 20bd cumulative injection, Withdrawals and Deposits, sourced from the U.S. Department of the Treasury, Fiscal Data.

How is this different from the TGA balance page?

This page shows the FLOW. The TGA page shows the LEVEL (stock).

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