Amidst a turbulent global bond market, the U.S. Treasury's borrowing needs are expected to decrease slightly in the final quarter of 2023, marking a significant shift from the record highs seen earlier in the year. The announcement, which revealed a borrowing target of $776 billion, was slightly below Wall Street's projections, signaling potential relief for market concerns. The Treasury has also stated that it expects to borrow $816 billion during the January-March period. This announcement comes 10 days after the government said the fiscal 2023 budget deficit would be about $1.7 trillion, an increase of $320 billion from the prior year.
