MNI: FED CHAIR JEROME POWELL SCHEDULED TO SPEAK JULY 2

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI BRIEF: CNB Cuts 2W Repo Rate By 50Bps To 4.75%

MNI China Daily Summary: Thursday, June 27

MNI BRIEF: China EU In Close Communication - MOFCOM

Tokyo Core CPI Ticks Higher, Job-To-Applicant Ratio Eases

MNI JAPAN MAY INDUSTRIAL OUTPUT +2.8% M/M; APRIL -0.9%

MNI JAPAN MAY JOBLESS RATE UNCHANGED FROM APRIL AT 2.6%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Lower Than Expected Treasury Borrowing Estimates

US

Treasury cuts Jan-March borrowing estimates from $816bn to $760bn, and estimates April-June at $202bn (see here).

  • The combination is clearly lower than the estimates we noted ahead of the release, summing to $962bn over the two quarters vs $1118bn for JPM/SocGen or $1269bn for DB.
  • DB for instance was closer with the Jan-Mar estimate with $797bn but then expected $472bn for Apr-Jun.
  • JPM and SocGen both looked for circa $260bn for Apr-Jun.
  • Treasury assumes a lower end-quarter cash balance than the above analysts, at $750bn for end-of-June vs $775bn pencilled in by JPM and $800bn by DB.
  • SOMA redemptions of $197bn meanwhile were exactly as DB forecast.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.