Treasury to borrow $776 billion in the final three months of the year (CNBC)

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    Treasury to borrow $776 billion in the final three months of the year – By Jeff Cox (CNBC) / Oct 30, 2023

    • In a closely watched announcement Monday afternoon, the Treasury Department said it will be looking to borrow $776 billion.
    • The Treasury said it expects to borrow $816 billion between January and March.
    • The announcement comes 10 days after the government said the fiscal 2023 budget deficit would be about $1.7 trillion.

    The U.S. government’s borrowing needs will decline slightly in the final three months of 2023 from the prior quarter, a potentially important development during a turbulent time for the global bond market.

    In a closely watched announcement Monday afternoon, the U.S. Department of the Treasury said it will be looking to borrow $776 billion, which is below the $1.01 trillion in privately held marketable debt the department borrowed in the July-through-September period, the highest ever for that particular quarter.

    The borrowing level appeared to be somewhat below Wall Street expectations — strategists at JPMorgan Chase said they expected the announcement to be around $800 billion

    CONTINUE > https://www.cnbc.com/2023/10/30/treasury-to-borrow-776-billion-in-the-final-three-months-of-the-year.html

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