WASHINGTON -- The U.S. Department of the Treasury today announced its current estimates of net privately-held marketable borrowing for the January – March 2018 and April – June 2018 quarters:
- During the January – March 2018 quarter, Treasury expects to borrow $441 billion in net privately-held marketable debt, assuming an end-of-March cash balance of $210 billion. The borrowing estimate is $71 billion lower than announced in October 2017. The decrease in borrowing is driven primarily by changes in cash balance assumptions, partially offset by lower net cash flows.1
- During the April – June 2018 quarter, Treasury expects to borrow $176 billion in net privately-held marketable debt, assuming an end-of-June cash balance of $360 billion.
During the October – December 2017 quarter, Treasury borrowed $282 billion in net privately-held marketable debt and ended the quarter with a cash balance of $229 billion. In October 2017, Treasury estimated net privately-held marketable borrowing of $275 billion and assumed an end-of-December cash balance of $205 billion. The slight increase in borrowing is attributable to the higher end-of-quarter cash balance, mostly offset by higher issuances of State and Local Government Series securities.
Additional financing details relating to Treasury's Quarterly Refunding will be released at 8:30 a.m. on Wednesday, January 31, 2018.