REFILE-US Treasury cash balance to reach $500 bln by end-July after debt ceiling increase
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NEW YORK, July 8 (Reuters) - The U.S. Treasury said on Tuesday it will build its cash balance to $500 billion by the end of July following the increase in the debt ceiling by $5 trillion with the signing into law of President Donald Trump's tax and spending bill.
The Treasury's cash balance had fallen to $372 billion as of last week, according to JP Morgan in a research note, "well below levels consistent with its operating framework."
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