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U.S. Treasury Now Sees $26 Billion Paydown in Debt This Quarter

The U.S. Treasury building in Washington, D.C.

The U.S. Treasury building in Washington, D.C.

Photographer: Samuel Corum/Bloomberg

The U.S. Treasury now anticipates a paydown in government debt this quarter, a turnaround after previously estimating net borrowing during the period, amid a surge in tax revenue.

The Treasury’s new projections, released in Washington Monday, show debt managers now expect to pay down $26 billion of debt in the April-through-June period. That compares with $66 billion in new borrowing it anticipated in January, and would mark the first quarterly paydown in six years.