Treasury Announces Marketable Borrowing Estimates

Sources and Uses TableWASHINGTON – The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing for the October–December 2026 and January–March 2027 quarters.During the October–December 2026 quarter, Treasury expects to borrow $618 billion in privately-held net marketable debt, assuming an end-of-December cash balance of $850 billion. The borrowing estimate is $10 billion lower than announced in August 2026, primarily due to the higher-than-assumed beginning of quarter cash balance, partially offset by lower projected net cash flows. Excluding the higher-than-assumed beginning-of-quarter cash balance, the current quarter borrowing estimate is $24 billion higher than announced in August.During the January–March 2027 quarter, Treasury expects to borrow $800 billion in privately-held net marketable debt, assuming an end-of-March cash balance of $1.000 trillion.During the July–September 2026 quarter, Treasury borrowed $742 billion in privately-held net marketable debt and ended the quarter with a cash balance of $984 billion.