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Treasury
US Treasury Lifts Q2 Borrowing Estimate
The US Treasury said Monday that it expects to borrow $189 billion in Q2, a larger borrowing estimate than the $109 billion it announced in its previous statement.The reason for the increase in the borrowing estimate was lower projected net cash flows that were partially offset by a higher-than-expected cash balance at the start of the quarter. The Treasury still assumes a $900 billion end-of-quarter balance.Borrowing is seen at $671 billion in Q3, with an estimated cash balance of $950 billion at the end of September.The Treasury borrowed $577 billion in Q1, ending March with an $893 billion cash balance at the end of the quarter. The Treasury had previously expected to borrow $574 billion with an end-of-March cash balance of $850 billion.The slightly higher amount of Q1 borrowing was due to a higher-than-assumed end-of-quarter cash balance that were partially offset by higher net cash flows, the Treasury said.
Treasury
US Treasury Estimates Q2 Borrowing at $189 Bln vs $109 Bln Previous Estimate
Treasury
US Treasury Closing Levels
3:00 Monday vs 3:00 Friday2yr 99-19 vs 99-24; 3.962% vs 3.884%5yr 99-00+ vs 99-12; 4.093% vs 4.018%10yr 97-14+ vs 98-00; 4.447% vs 4.375%30yr 95-23+ vs 96-22; 5.026% vs 4.963%2/10 48.280 bps vs 48.906 bps5/30 93.109 bps vs 94.299 bps