WASHINGTON – The U.S. Department of the Treasury has disclosed its borrowing estimates for the upcoming quarters of 2024. According to the announcement, for the April – June 2024 quarter, the Treasury plans to borrow $243 billion in privately-held net marketable debt, with an end-of-June cash balance of $750 billion. The borrowing estimate is $41 billion higher than previously anticipated, primarily due to decreased cash receipts, partially offset by a higher beginning of the quarter cash balance.
Looking ahead to the July – September 2024 quarter, the Treasury projects a borrowing of $847 billion in privately-held net marketable debt, assuming an end-of-September cash balance of $850 billion.
In reviewing the past January – March 2024 quarter, the Treasury borrowed $748 billion in privately-held net marketable debt, concluding the quarter with a cash balance of $775 billion. This borrowing amount was $12 billion lower than initially estimated, attributed to higher cash receipts and lower outlays, partially offset by a $25 billion higher ending cash balance.
The Treasury also mentioned that additional financing details concerning the Quarterly Refunding will be unveiled on Wednesday, May 1, 2024, at 8:30 a.m.
These estimates provide insights into the Treasury's financial plans and strategies for managing marketable borrowing in the upcoming quarters of 2024.
