US Tsy Sees $275B Borrowing In 4Q; Prev Estimate $501B>

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

borrow $275 billion of net marketable debt in the fourth quarter of 

2017, assuming a $205 billion cash balance on December 31. 

     Previously, the Treasury estimated it would borrow $501 billion in 

the quarter, with a $360 billion cash balance at the end of December. 

     The reduction in borrowing is due to the cash balance being $99 

billion higher at the end of September than previously estimated, as 

well Treasury's expectation of the cash balance at the end of December 

being $155 billion lower than previously estimated. 

     In the third quarter of 2017, Treasury borrowed $189 billion, while 

the end-of-quarter cash balance was $159 billion. Treasury had 

previously estimated it would borrow $96 billion in the third quarter, 

assuming a $60 billion cash balance on September 30. 

     Regarding the third quarter, the Treasury said the higher borrowing 

level was due to the higher ending cash balance, Treasury said. 

     Looking ahead, Treasury said that it expects to borrow $512 billion 

in the first quarter of 2018, with an end-of-quarter cash balance of 

$300 billion on March 31. 

     Details of the quarterly refunding are scheduled to be released on 

Wednesday, November 1 at 8:30 a.m. ET. 

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

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