The US Treasury Department raises its borrowing expectations for the second quarter

According to a report by Golden Finance, the US Treasury Department announced on Monday that it expects a net debt of $514 billion in the second quarter, which is $391 billion higher than the February estimate, mainly due to lower cash balances at the beginning of the quarter and lower net cash flow estimates. The Ministry of Finance stated in a statement that the second quarter financing estimate assumes a cash balance of $850 billion as of the end of June. If the lower than expected cash balance at the beginning of the quarter is excluded, the estimated borrowing for the second quarter is $53 billion lower than the one announced in February. The Ministry of Finance also announced that it expects to borrow $554 billion in the third quarter, assuming a cash balance of $850 billion by the end of September.