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5/3, 9:20 PM (Source: TeleTrader)
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Treasury expects to borrow $1.3T over second half of fiscal year

The United States Treasury Department announced its current estimates of borrowing for the next two quarters, as the department expects the borrowing to top $1.3 trillion.

For the April - June 2021 quarters, the department has upped its estimates by $368 billion, stating that it now expected to borrow around $463 billion in privately-held net marketable borrowing. The increase is attributed to the government's increased response to the COVID-19 pandemic.

As for the following quarter, the borrowing estimate stands at $821 billion, with the assumption that the cash balance at the end of September will stand at $750 billion. The cash balance assumption for the previous quarter, ending July 2021, stands at $450 billion.

Breaking the News / OL