MNI:US Tsy Sees $425B Borrowing In 4Q;Prev Estimate $440 Bln>

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

borrow $425 billion of net marketable debt in the fourth quarter of 

2018, assuming a $410 billion cash balance on December 31. 

     Previously, the Treasury estimated it would borrow $440 billion in 

the quarter, with a $390 billion cash balance at the end of December. 

     The lower borrowing estimate was due to "changes in cash balance 

assumptions," the Treasury said. 

     In the third quarter of 2018, Treasury borrowed $353 billion, 

while the end-of-quarter cash balance was $385 billion. Treasury had 

previously estimated it would borrow $329 billion in the third quarter, 

assuming a $350 billion cash balance on September 30. 

     Regarding the third quarter, the Treasury said the higher borrowing 

level was due to "the higher end-of-quarter cash balance partially 

offset by higher cash flows." 

     Looking ahead, Treasury said that it expects to borrow $356 billion 

in the first quarter of 2019, with an end-of-quarter cash balance of 

$320 billion on March 31. 

     Details of the quarterly refunding are scheduled to be released on 

Wednesday, October 31 at 8:30 a.m. ET. 

          ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MFU$$$,MGU$$$,MP$FI$]