The US Treasury on Monday said it expects to borrow $739 billion during the third quarter, an increase of $68 billion from the estimate it released in May, as lower-than-expected cash flows outweighed the benefit of a stronger opening cash balance, as per a Reuters report.
According to the Treasury's quarterly refunding statement, the higher borrowing estimate partly reflects a larger starting cash balance. Excluding that benefit, third-quarter borrowing needs are $87 billion higher than projected in May. The department expects to end September with a cash balance of $950 billion.
