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U.S. Treasury to pay down $26 billion in debt in Q2 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is the United States Department of the Treasury, Washington, D.C., U.S.A, on August 30, 2020. REUTERS/Andrew Kelly

NEW YORK (Reuters), The U.S. Treasury announced Monday that $26 Billion in U.S. debt will be paid down in the second quarter. That’s down from a Jan borrowing estimate of $66 Billion. It was primarily due to an increase in receipts.

This second-quarter estimate assumes a cash balance at $800 billion by June.

Since November, after increasing the debt issuance to cover pandemic-related expenses in 2020, Treasury has reduced debt auction volumes.

In the July toSeptember quarter, it expects $182 Billion in private-held net-marketable debt to be refinanced. It assumes an end-of September cash balance of $650 Billion.

The company said that it had issued net debt of $668 billion during the first quarter. It ended the three-month period with $652 billion cash.

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