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U.S. Treasury expects to borrow $352 billion in fourth quarter

Published 10/28/2019, 03:07 PM
Updated 10/28/2019, 03:11 PM
U.S. Treasury expects to borrow $352 billion in fourth quarter

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.

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