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MNI BRIEF: US Treasury Raises Q1 Borrowing Estimate by USD254B


The U.S. Treasury Department on Monday announced it expects to borrow USD729 billion in privately-held net marketable debt in the first quarter, USD254 billion more than previously announced in November.

Treasury is assuming a cash balance of approximately USD650 billion at the end of March. For the tax-heavy second quarter, Treasury plans to borrow USD66 billion, assuming an end-of-June 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. February 2.

The Treasury's financing estimates do not include any assumptions about the Federal Reserve and potential runoff to the central bank's portfolio of assets and authorities instead await official announcements from the Fed, senior Treasury officials said on a call with reporters.

MNI Washington Bureau | +1 202-371-2121 |
MNI Washington Bureau | +1 202-371-2121 |

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