The U.S. Treasury Department said it expects total bond issuance in the market in the third quarter to be $443 billion, and it is estimated that the total amount of cash held at the end of the quarter will be $350 billion. The total amount of debt issued by the Ministry of Finance is higher than the original estimate of US$ 274 billion, mainly due to changes in the assumed cash balance.
The Department also expects that the fourth quarter debt is $381 billion and the quarter-end cash level is expected to reach $410 billion.
The Ministry of Finance borrowed $40 billion through the credit market from April to June, and the cash balance at the end of the second quarter was $264 billion.
