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MNI BRIEF: US Treasury Expects To Borrow USD844B By Yearend

(MNI) Washington

The U.S. Treasury Department Monday announced it expects to borrow USD444 billion in privately-held net marketable debt in the third quarter, USD262 billion more than previously announced in May.

Treasury is assuming a cash balance of approximately USD650 billion at the end of September. For the fourth quarter, Treasury expects to borrow USD400 billion, assuming an end-of-December cash balance of USD700 billion. The Treasury's quarterly refunding, which is expected to show coupon cuts, will be released at 8:30 a.m. August 3.

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The U.S. Treasury Department Monday announced it expects to borrow USD444 billion in privately-held net marketable debt in the third quarter, USD262 billion more than previously announced in May.

Treasury is assuming a cash balance of approximately USD650 billion at the end of September. For the fourth quarter, Treasury expects to borrow USD400 billion, assuming an end-of-December cash balance of USD700 billion. The Treasury's quarterly refunding, which is expected to show coupon cuts, will be released at 8:30 a.m. August 3.

Keep reading...Show less