U.S. Treasury cuts borrowing estimate to $618 billion

The department stated that the revised projection for the October–December period reflects a higher-than-expected cash balance at the beginning of the quarter. The Treasury's cash balance is expected to reach $850 billion by the end of December, while lower projected net cash flows partially offset the reduction in borrowing needs.

For the first quarter of 2027, the U.S. Treasury projects borrowing of $800 billion, with its cash balance expected to reach $1 trillion by the end of March. Meanwhile, the Treasury borrowed $742 billion during the July–September period of 2026, ending the quarter with a cash balance of $984 billion. In its previous estimates published in August, the department had projected borrowing of $739 billion and an ending cash balance of $950 billion for the same period.