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U.S. Treasury raises Q3 borrowing estimate

·1 min read

NEW YORK, Aug 1 (Reuters) - The U.S. Treasury said on Monday it expects to borrow $444 billion in the third quarter, more than the May estimate of a $182 billion, due to changes in projections of fiscal activity and the estimated impact of redemptions in the Federal Reserve System Open Market Account.

The third-quarter estimate assumes an end-of-September cash balance of $650 billion.

It expects to borrow $400 billion in privately held net marketable debt in the October to December quarter, assuming an end-of-December cash balance of $700 billion.

The Treasury said it issued $7 billion in net debt in the second quarter, ending the three-month period with a cash balance of $782 billion. (Reporting by Karen Brettell)