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Bessent Absent in Bangkok, Washington's Deficit Open at $1.99 Trillion, Peg Holds at 3.7500
The G20 table sat incomplete, the U.S. fiscal year closed with its widest deficit in five years, and Gulf pegs finished the week unmoved — the action is not in price, but in the bill.
The week closed numerically quiet for the Gulf, structurally loud. The riyal at 3.7500, the dirham at 3.6725 — the pegs remained silent once again. Washington's treasury ledger did the talking.
U.S. Treasury data relayed by local media this evening shows that fiscal year 2026 closed with a federal deficit of $1.99 trillion. This represents a 12 percent increase from the previous year's $1.78 trillion — the widest deficit seen since pandemic year 2021's $2.77 trillion. Revenue rose 3 percent to…