US cuts borrowing estimate, sees smaller year-end cash pile
US cuts borrowing estimate, sees smaller year-end cash pile
30/7/2024 6:22

The US Treasury reduced its estimate for federal borrowing for the current quarter and projected the government’s cash buffer to decline toward year-end, just ahead of a possible fresh fight over the debt limit.

The Treasury Department said in a statement Monday that it now estimates $740 billion in net borrowing for July through September, down from a previous prediction of $847 billion released on April 29. The decrease was expected by most bond dealers.

Source: Bloomberg

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