The U.S. Treasury more than quadrupled its borrowing estimate for the quarter through June, and expects to need some $1.3 trillion over the second half of the fiscal year to help pay for a raft of fresh pandemic-relief spending.
The Treasury’s projections, released in Washington Monday, incorporated the impact of President Joe Biden’s $1.9 trillion pandemic-relief bill, enacted in March. In a February outlook, the Treasury left out any guess on such spending.
Dollar value is down below pre pandemic levels. The FX insurers might want extra, but more likely oil price will jump. Dunno which comes first, the chicken or the egg. Lookingf here t 2 AM oik jumpa to 65 making frackers active.
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