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US Treasury to borrow $189 bln in Q2, higher than expected

Kitco Media
By Reuters
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Updated:
Reuters
US Treasury to borrow $189 bln in Q2, higher than expected teaser image

NEW YORK, May 4 (Reuters) - The U.S. Treasury said on ​Monday it expects ‌to borrow $189 billion in the second quarter, $79 billion higher ​than the February ​estimate primarily due to lower ⁠than projected net ​cash flows that were ​partially offset by higher than expected cash balance at the ​beginning of the ​quarter.

The second-quarter financing estimate assumes a ‌cash ⁠balance of $900 billion at the end of June, the Treasury said ​in a ​statement.

The ⁠Treasury also said it expects to ​borrow $671 billion in ​the ⁠third quarter, as it forecasts a cash balance ⁠of $950 ​billion at ​the end of September.

Reporting by Gertrude ​Chavez-Dreyfuss Editing by Nick Zieminski

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