U.S. Lifts Borrowing Estimate for This Quarter on Lower Receipts

(Bloomberg) -- The U.S. government plans to issue 3.3 percent more of its debt this quarter than previously estimated as it faces moderately lower receipts, The Treasury Department said.

The department will issue $188 billion in net marketable debt from October through December, compared with $182 billion estimated in August, according to a Treasury statement released Monday in Washington. The department sees an end-of-December cash balance of $390 billion, the same as it projected in August.

From January through March, the Treasury sees issuance of $56 billion in net marketable debt, with a $100 billion cash balance at the end of the period.

From July through September, the government said it issued $222 billion in net marketable debt, compared with its August prediction to borrow $201 billion. The cash balance was $353 billion at the end of the period.

The financing estimates precede the department's quarterly refunding announcement on Nov. 2, when the sizes of note and bond sales are released.

To contact the reporter on this story: Saleha Mohsin in Washington at smohsin2@bloomberg.net. To contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Sarah McGregor, Randall Woods