By Alden Bentley
NEW YORK (Reuters) – The U.S. Treasury said on Monday it expects to issue $550 billion in debt in the fourth quarter, up $150 billion from an August estimate, primarily due to changes to projections of fiscal activity, weaker prices on marketable securities and lower non-marketable financing.
The fourth-quarter estimate assumes an end-of-December cash balance of $700 billion.
It expects to borrow $578 billion in privately held net marketable debt from January to March 2023, assuming an end-of-December cash balance of $500 billion.
It said it issued $457 billion in net debt in the third quarter this year, ending the three-month period with a cash balance of $636 billion.
(Reporting by Alden Bentley, Editing by Rosalba O’Brien)
