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MNI BRIEF: Treasury Raises Q2 Borrowing Estimate By USD41B

(MNI) WASHINGTON

The U.S. federal government expects to borrow over a trillion dollars in the next 6 months.

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The U.S. Treasury Department on Monday announced it expects to borrow USD243 billion in privately held net marketable debt in the second quarter, USD41 billion more than previously announced in January due to lower cash receipts. Officials expect to borrow USD847 billion in the third quarter.

Treasury is assuming that the Fed's current quantitative tightening will continue to run at the current pace with the caps at USD60 billion per month for Treasuries. The agency also assumes a cash balance of USD750 billion at the end of June and a cash balance of USD850 billion at the end of September.

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The U.S. Treasury Department on Monday announced it expects to borrow USD243 billion in privately held net marketable debt in the second quarter, USD41 billion more than previously announced in January due to lower cash receipts. Officials expect to borrow USD847 billion in the third quarter.

Treasury is assuming that the Fed's current quantitative tightening will continue to run at the current pace with the caps at USD60 billion per month for Treasuries. The agency also assumes a cash balance of USD750 billion at the end of June and a cash balance of USD850 billion at the end of September.

Keep reading...Show less