US Treasury refunding update: $243 billion vs $202 billion prior

The U.S. Treasury has revised its borrowing estimate for the April-June quarter to $243 billion, up from the initial $202 billion forecast in late January. This increase is attributed to lower cash receipts and a higher beginning cash balance. The Treasury also plans to borrow $847 billion in the July-September quarter, anticipating an end-September cash balance of $850 billion. Despite expectations of lower borrowing due to increased receipts, the actual figures show a significant rise, potentially impacting bond markets adversely.