Update
US Treasury Adjusts Q4 Borrowing Estimate
The US Treasury has revised its Q4 borrowing estimate by $10 billion to $618 billion, reflecting an increase of $24 billion in cash-adjusted financing needs. The revised estimate implies a $134 billion cash decline in the fourth quarter, followed by a $150 billion cash rebuild in the first quarter of 2027. The Treasury's assumptions assume a $134 billion cash decline in the fourth quarter and a $150 billion cash rebuild in the first quarter of 2027.