October 29, 2018 / 7:05 PM / 14 days ago

U.S. Treasury expects to borrow $425 billion in fourth quarter

WASHINGTON (Reuters) - The U.S. Treasury said on Monday it expects to borrow $15 billion less during the fourth quarter than previously estimated.

The department said in a statement it expects to issue $425 billion through credit markets during the October-December period, assuming an end-December cash balance of $410 billion.

Treasury also expects to issue $356 billion in net marketable debt in the January-March 2019 period. In the third quarter, Treasury borrowed $353 billion through credit markets.

Additional details of Treasury’s quarterly refunding will be announced at 0830 EDT (1230 GMT) on Wednesday.

Washington newsroom

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