US Treasury Adjusts Q4 Borrowing Estimate, Bond Market on Alert

The U.S. Department of the Treasury has announced its estimates for privately-held net marketable borrowing for the October-December 2023 and January-March 2024 quarters. The borrowing estimate for the October-December quarter is $776 billion, $76 billion lower than previously announced, due to higher receipts and outlays. For the January-March quarter, the borrowing estimate is $816 billion. In the July-September quarter, Treasury borrowed $1.010 trillion and ended with a cash balance of $657 billion. Additional financing details will be released on November 1, 2023.