In another sign of an improving deficit picture, the Treasury on Monday said it expects to pay off debt in the current quarter for the first time in six years.
In a statement, Treasury said it now expects to pay off $35 billion of debt in the April-to-June quarter, compared to an earlier projection, given in February, that it would have to borrow $103 billion.
This will be the first quarter that Treasury has paid off debt since April-to-June period 2007.
The payoff “is emblematic of the turn in budget finances from horrible, to grim, on their way to steadily better,” said Eric Green, global head of rates and foreign-exchange research at TD Securities...continue
In a statement, Treasury said it now expects to pay off $35 billion of debt in the April-to-June quarter, compared to an earlier projection, given in February, that it would have to borrow $103 billion.
This will be the first quarter that Treasury has paid off debt since April-to-June period 2007.
The payoff “is emblematic of the turn in budget finances from horrible, to grim, on their way to steadily better,” said Eric Green, global head of rates and foreign-exchange research at TD Securities...continue