US DATA: USTsy borrowing requirement is $276b in Q3 with $60b cash bal,
vs the April est of $265b in net marketable debt assuming an end-Sept
cash balance of $95b. Thus Tsy’s cash need is $46b higher. Tsy also said
Q4 borrowing need is $316b with $40b cash bal at end-Dec.
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Tsy’s econ briefing says “activity has moderated in recent mos” but
growth continues and they expect moderate growth thru yr-end despite
headwinds. Hsg and labor mkts are seeing improvement.