Free Trial

MNI BRIEF: US Treasury Expects To Borrow USD844B By Yearend


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.

The Treasury's third quarter financing estimates were adjusted due to the Federal Reserve's SOMA redemptions. During the second quarter, the U.S. borrowed USD7 billion and ended the quarter with a USD782 billion cash balance.

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

To read the full story



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.