MNI: US Tsy Sees $365B Borrowing In 1Q;Prev Estimate Was $356B

     WASHINGTON (MNI) - The U.S. Treasury Monday estimated it will borrow $365

billion of net marketable debt in the first quarter of 2019, assuming a $320

billion cash balance on March 31.

     Previously, the Treasury estimated it would borrow $356 billion in the

quarter, with a $320 billion cash balance at the end of March.

     The larger borrowing estimate was "driven primarily by a lower than

previously assumed opening cash balance," the Treasury said.

     In the fourth quarter of 2018, Treasury borrowed $426 billion, while the

end-of-quarter cash balance was $402 billion. Treasury had previously estimated

it would borrow $425 billion in the third quarter, assuming a $410 billion cash

balance on December 31.

     Looking ahead, Treasury said that it expects to borrow $83 billion in the

second quarter of 2019, with an end-of-quarter cash balance of $300 billion on

June 30.

     Details of the quarterly refunding are scheduled to be released on

Wednesday, January 30 at 8:30 a.m. ET.

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

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