US Treasury Raises July-September Borrowing Estimate to $739 Billion
- US Treasury estimates $739 billion in privately held net marketable borrowing for July-September 2026, assuming an end-September cash balance of $950 billion
- Borrowing estimate is $68 billion higher than projected in May, primarily due to lower expected net cash flows
- Excluding the higher-than-expected beginning-of-quarter cash balance, borrowing estimate is $87 billion higher than May's projection
- Treasury expects $628 billion in borrowing for October-December 2026, assuming an end-December cash balance of $850 billion
- Treasury borrowed $190 billion during April-June 2026, compared with its previous estimate of $189 billion
- Treasury ended June with a cash balance of $919 billion, above its $900 billion projection