US Treasury expects to borrow $815 billion in first quarter

Feb 3 (Reuters) - The U.S. Treasury said on Monday it expects to borrow $815 billion in the first quarter, lower than the October estimate by $9 billion, mainly due to a higher cash balance at the beginning of the quarter.

The first-quarter financing estimate assumes a cash balance of $850 billion at the end of March, the Treasury said in a statement.

The Treasury also announced it expects to borrow $123 billion in the second quarter, assuming a cash balance of $850 billion at the end of June.

In the fourth quarter of 2024, the Treasury said it issued $620 billion in net marketable debt and ended that quarter with a cash balance of $722 billion.