US Treasury expects to borrow $425bn in fourth quarter

WASHINGTON: The US Treasury said on Monday it expects to borrow $15 billion less during the fourth quarter than previously estimated.

The department said in a statement it expects to issue $425 billion through credit markets during the October-December period, assuming an end-December cash balance of $410 billion.

Treasury also expects to issue $356 billion in net marketable debt in the January-March 2019 period.

In the third quarter, Treasury borrowed $353 billion through credit markets.

Additional details of Treasury's quarterly refunding will be announced at 0830 EDT (1230 GMT) on Wednesday.