By Karen Brettell
Aug. 2 (Reuters) – The U. S. Treasury said on Monday it planned to borrow $673 billion in the third quarter, less than May’s estimate of $821 billion, due to a higher balance at the start of the quarter and a decline in spending.
The estimate for the third quarter assumes a cash balance due in September of 750,000 million dollars, the Treasury said in a statement.
The Treasury has issued its issuance since February, when it cut its debt projections for the first quarter and timing as a component of a plan for its monetary balance.
The Treasury reported issuing $319 billion in debt at the time of the quarter, ending the three-month era with a monetary balance of $852 billion.
Plans to borrow $703 billion in the October-December quarter, assuming a balance of money at the end of December of $800 billion (Report via Karen Brettell; Edited via Andrea Ricci).