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The U.S. Treasury Department said on Monday it expects to borrow USD760 billion in the first quarter, USD55 billion less than forecast in October, largely due to higher net fiscal flows and a higher cash balance at the beginning of the quarter.
In the second quarter from April to June, the agency expects to borrow USD202 billion, assuming an end-March and end-June cash balance of USD750 billion. Taken together, the agency is estimating borrowing USD962 billion in the first half of 2024. Treasury borrowed USD776 billion in the fourth quarter of 2023.
Source: Treasury Department
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
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.
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