The Ministry of Finance of the US raises expectations for the debt issuance scale in the second quarter.

The US Treasury Department announced on Monday that it expects to net borrow $514 billion in the second quarter, which is $391 billion higher than the February estimate. This is mainly due to lower cash balances at the beginning of the quarter and lower net cash flow projections. The Treasury Department stated in a release that the financing estimate for the second quarter assumes a cash balance of $850 billion at the end of June. Excluding the lower-than-expected cash balance at the beginning of the quarter, borrowing in the second quarter is projected to be $53 billion lower than the February estimate. The Treasury Department also announced that it expects to borrow $554 billion in the third quarter, assuming a cash balance of $850 billion at the end of September.