Release · 2026-11-02 to 2026-11-02

Treasury expects to borrow $618 billion this quarter and $800 billion from January to March

The Treasury Department said on Monday, November 2, 2026, that it expects to borrow 618 billion dollars in privately-held net marketable debt in the October to December 2026 quarter, assuming an end-of-December cash balance of 850 billion dollars. That estimate is 10 billion dollars lower than Treasury announced in August 2026, mainly because the quarter began with a higher cash balance than assumed; excluding that, the estimate is 24 billion dollars higher than in August. For the January to March 2027 quarter, Treasury expects to borrow 800 billion dollars, assuming an end-of-March cash balance of 1.000 trillion dollars. In the July to September 2026 quarter, Treasury borrowed 742 billion dollars and ended with a cash balance of 984 billion dollars, against an August estimate of 739 billion dollars. Refunding details follow on Wednesday, November 4.

Privately-held net marketable borrowing, October to December 2026 (estimate): $618B 2026-Q4
Assumed Treasury cash balance, end of December 2026: $850B 2026-12-31
Privately-held net marketable borrowing, January to March 2027 (estimate): $800B 2027-Q1
Privately-held net marketable borrowing, July to September 2026 (actual): $742B 2026-Q3
Privately-held net marketable borrowing, July to September 2026 (August estimate): $739B 2026-Q3
Treasury cash balance, end of September 2026: $984B 2026-09-30

Treasury privately-held net marketable borrowing. Treasury marketable borrowing estimates, November 2, 2026: July to September actual, later quarters estimated. Share card.

Source: Treasury Announces Marketable Borrowing Estimates (November 2, 2026) — U.S. Department of the Treasury.

all 6 figures found at the source

found Privately-held net marketable borrowing, October to December 2026 (estimate) = $618B — at U.S. Department of the Treasury
found Assumed Treasury cash balance, end of December 2026 = $850B — at U.S. Department of the Treasury
found Privately-held net marketable borrowing, January to March 2027 (estimate) = $800B — at U.S. Department of the Treasury
found Privately-held net marketable borrowing, July to September 2026 (actual) = $742B — at U.S. Department of the Treasury
found Privately-held net marketable borrowing, July to September 2026 (August estimate) = $739B — at U.S. Department of the Treasury
found Treasury cash balance, end of September 2026 = $984B — at U.S. Department of the Treasury

Researched by Grok, checked against each source by an automated pass, edited by FEDPOLICY.ORG. Published Nov 2, 2026.

This page is one print. The daily brief for November 2, 2026 is the editor's cut of what mattered that day. Figures are as the named sources printed them. The methodology says how this page is made and what is checked.