U.S. Treasury to issue $550 billion in debt in Q4
FILE PHOTO: The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly
By Alden Bentley
NEW YORK (Reuters) — The U.S. Treasury said on Monday it expects to issue $550 billion in debt in the fourth quarter, up $150 billion from an August estimate, primarily due to changes to projections of fiscal activity, weaker prices on marketable securities and lower non-marketable financing.
The fourth-quarter estimate assumes an end-of-December cash balance of $700 billion.
It expects to borrow $578 billion in privately held net marketable debt from January to March 2023, assuming an end-of-December cash balance of $500 billion.
It said it issued $457 billion in net debt in the third quarter this year, ending the three-month period with a cash balance of $636 billion.
