US to borrow $276 bln in Q4

The US will borrow $276 bln in the October-December quarter. This is lower than estimated at mid-year as the government will not have to borrow $250 bln it had put in the budget as a place holder to guard against greater government bailouts for the banks.

Next year, the government is expected to run another $1.4 trln deficit, according to a survey of primary dealers.Borrowing needs are seen between $1.2 and $1.75 trln, according to Reuters.