U.S. Treasury cuts Q4 borrowing estimate to $569B

The Federal borrowing estimate for the U.S. Treasury Department for the final three months of the year was reduced to $569 billion, thanks to a stronger cash position and improved revenue collection. The three months, which ended on Wednesday, saw $21 billion in short-term borrowing, down from the $590 billion forecast issued in July, indicating a decrease in short-term borrowing. Officials attribute most of the changes to more cash than expected at the beginning of the quarter. The data available suggests that in early October, the Treasury had approximately $891 in cash, which was above the $850 in summer gross...