The U.S. Treasury Department lowered its fourth-quarter borrowing forecast to $618 billion.

The U.S. Treasury projects borrowing $618 billion in the fourth quarter, a decrease of $10 billion from its August estimate. This projection assumes a cash balance of $850 billion at the end of December. The Treasury projects borrowing $800 billion in the first quarter of 2027, assuming a cash balance of $1 trillion at the end of March. Actual borrowing in the third quarter was $742 billion, with a cash balance of $984 billion at the end of September.