U.S. Treasury expects to borrow $352 billion in fourth quarter
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FILE PHOTO: A sign marks the U.S Treasury Department in Washington, U.S., August 6, 2018. REUTERS/Brian Snyder/
WASHINGTON (Reuters) - The U.S. Treasury said on Monday it expects to borrow $29 billion less during the fourth quarter than previously estimated.
The department said in a statement it expects to issue $352 billion through credit markets during the October-December period, assuming an end-December cash balance of $410 billion.
Treasury also expects to issue $389 billion in net marketable debt in the January-March 2020 period. In the third quarter of this year, Treasury borrowed $440 billion through credit markets.
Additional details of Treasury’s quarterly refunding will be announced at 0830 EDT (1230 GMT) on Wednesday.
(Reporting by Lindsay Dunsmuir; Editing by Andrea Ricci)
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