US Treasury to borrow $776 billion in the final three months of 2023
In a Monday announcement, the US Treasury Department said it will be looking to borrow $776 billion in the final three months of this year. The announcement comes 10 days after the government said the fiscal 2023 budget deficit would be about $1.7 trillion. JUST IN: 🇺🇸 US Treasury to borrow $776 billion in the final three months of 2023. — Watcher.Guru (@WatcherGuru) October 30, 2023 In addition, the Treasury said it expects to borrow $816 billion between January and March 2024. Stocks lost some of their gains but still remained positive after the announcement. Also, treasury yields were mostly higher. In the previous July-through-September period, the department borrowed $1.01 trillion. Officials attribute the lower borrow ing needs to higher receipts, which were offset by greater expenses. The department said it expects to maintain a $750 billion cash balance for this current quarter and Q2 in 2024. Also Read: BRICS & Biden Agree: A New World Order is