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MNI BRIEF: US Treasury Raises Q4 Borrowing Estimate By USD150B

(MNI) WASHINGTON

The U.S. Treasury Department on Monday announced it expects to borrow USD550 billion in privately-held net marketable debt in the fourth quarter, USD150 billion more than previously announced in August.

Treasury is assuming a cash balance of USD700 billion at the end of December. For the first quarter next year, Treasury plans to borrow USD578 billion, assuming an end-of-March cash balance of USD500 billion. The Treasury's next quarterly refunding will be released at 8:30 a.m. November 2.

The estimates assume enactment of a debt limit suspension or increase and if Congress does not act to address the debt limit the Treasury's cash balance may be lower than assumed. During the third quarter, Treasury borrowed USD457 billion.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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