The Treasury announces marketable borrowing estimates

Table of sources and uses

Washington — The US Treasury today announced its current estimates of private sector net marketable borrowing^[1] For the quarters from January to March 2024 and April to June 2024.

• During the January-March 2024 quarter, the Treasury expects to borrow $760 billion of privately held net marketable debt, assuming an end-March cash balance of $750 billion.^[2] Borrowing estimates are $55 billion lower than announced in October 2023, largely due to expectations of higher net financial flows and a higher beginning cash balance for the quarter.^[3]
• During the April-June 2024 quarter, the Treasury expects to borrow $202 billion of privately held net marketable debt, assuming an end-June cash balance of $750 billion.^[4]

During the October-December 2023 quarter, the Treasury borrowed $776 billion of privately held net marketable debt and ended the quarter with a cash balance of $769 billion. In October 2023, the Treasury estimated borrowing at $776 billion and assumed an end-December cash balance of $750 billion. There was no change in net private market borrowing although the ending cash balance was $19 billion higher, primarily due to other funding sources including a lower-than-expected discount on marketable borrowing.

Additional funding details relating to the Treasury's quarterly recovery will be published at 8:30am on Wednesday 31 January 2024.

###