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Treasury Cuts Quarterly Borrowing Estimate to $760 Billion

Department releases borrowing estimate for January to March
Treasury also predicts $202 billion net borrowing next quarter

X.com

13 hours ago

Matthew Zeitlin on X: "actually i'm not joking, that literally happened, treasury borrowing came in lower than expected (i.e. market expects lower rates, lower rates means higher value of future dividends), the

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Barron's

Treasury Cuts Borrowing Estimate. It's Good News For Bonds.

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Wall Street Now

14 hours ago

Treasury Cuts Q1 Borrowing, Markets Rally

Reuters

January 29, 202412:07 PM PST Updated 15 hours ago

The U.S Treasury building in Washington.

NEW YORK, Jan 29 (Reuters) - The U.S. Treasury said on Monday it expects to borrow $760 billion in the first quarter, $55 billion lower than the October estimate primarily due to forecasts for increased net fiscal flows and higher cash balance.

The first-quarter financing estimate assumes a cash balance of $750 billion at the end of March, the Treasury said in a statement.

The Treasury also announced it expects to borrow $202 billion in the second quarter, as it projects a cash balance of $750 billion at the end of June.

It also said in the fourth quarter of 2023, the Treasury borrowed $776 billion in net marketable debt, in line with estimates released in October last year. It ended the fourth quarter with a cash balance of $769 billion.

The Treasury explained that the end-December cash balance was $19 billion higher than the October forecast due to other sources of financing such as the lower-than-estimated discount on marketable borrowing.

Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama

Wolf Street

10 hours ago