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MNI BRIEF: US Treasury Cuts Jan-Mar Borrowing Estimate By $55B

(MNI) WASHINGTON
USPolicy NewsHomepageFiscalGovernment sectorBriefStoryRegionNorth America

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.

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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.

Keep reading...Show less