Treasury Raises Quarterly Borrowing Estimate To By $85 Billion

The U.S. government expects to borrow $250 billion in the January-March quarter, an estimate that is $85 billion higher than previously projected in November, the Treasury Department said Monday. The latest estimate includes an assumption of an end-of-March cash balance of $320 billion. For the April-June quarter, Treasury expects to pay down $112 billion in net marketable debt assuming a cash balance of $350 billion. During the October-December quarter, Treasury issued $354 billion in net marketable debt and ended with a cash balance of $333 billion.