The Treasury is laying out its borrowing plans for this quarter and next. It will borrow $361 bln this quarter and $515 bln in the July-September quarter. It borrowed $481 bln in the January-March quarter.
The borrowing needs are based on the economy begining to grow again in the second half of 2009, so these figures could grow much larger if it does not.
EUR/USD trades just above 1.3000 as swine flu continues to crimp risk appetites.
