U.S. Treasury Significantly Raises Third-Quarter Borrowing Estimate

According to a report by Jinse Finance, the U.S. Department of the Treasury stated that due to lower cash levels at the beginning of the quarter, the borrowing estimate for the third quarter is $453 billion higher than the forecast made in April, raising the expected borrowing amount for July to September to $1.007 trillion. Net borrowing for October to December is projected to be $590 billion.