US Treasury Plans to Borrow $1.3 Trillion Over Next 6 Months

Financial markets will watch the Treasury’s end-of-December cash balance ahead of debt-ceiling negotiations.

U.S. Treasury Secretary Janet Yellen attends a press conference at U.S. Ambassador's residence in Beijing on April 8, 2024. Pedro Pardo/AFP via Getty Images

The federal government plans to borrow $1.3 trillion over the next six months, according to the Treasury Department’s latest Marketable Borrowing Estimates published on July 29.

In the July-September quarter of fiscal year 2024, the Treasury expects to borrow $740 billion in privately held net marketable debt. This is down $106 billion from the previous estimate, made in April 2024. The drop takes into account mainly the Federal Reserve slowing its redemptions of Treasury securities and a higher beginning-of-quarter cash balance.