U.S. Markets

U.S. Treasury expects to borrow $365 billion in January-March quarter

FILE PHOTO: A sign marks the U.S Treasury Department in Washington, U.S., August 6, 2018. REUTERS/Brian Snyder/File Photo

WASHINGTON (Reuters) - The U.S. Treasury said on Monday it expects to borrow $8 billion more during the January-March quarter than previously estimated.

The department said in a statement it expects to issue $365 billion through credit markets during the period, assuming an end-of-March cash balance of $320 billion.

Treasury also expects to issue $83 billion in net marketable debt in the April-June period. In the October-December quarter, Treasury borrowed $426 billion through credit markets.

The 35-day partial shutdown of the U.S. government “didn’t really have any impact” on the borrowing figures, a senior Treasury official said.

Additional details of Treasury’s quarterly refunding will be announced at 8:30 a.m. EST (1330 GMT) on Wednesday.

Reporting by Melissa Bland and Washington newsroom; Editing by Paul Simao