The US Treasury Department expected to issue US$1.007 trillion in bonds this quarter, which is US$453 billion higher than the April estimate, partly to replenish cash balance, affected by lower-than-expected early-quarter balance and lowered net cash flow forecasts. The department anticipated an end-3Q25 cash balance of US$850 billion. According to research firm Wrightson ICAP, the US Treasury Department's cash balance as of 3 July was only US$313 billion.The US Treasury Department also expected to issue US$590 billion in bonds in 4Q25, with an anticipated year-end cash balance of US$850 billion. In 2Q25, the authority issued only US$65 billion in bonds, significantly lower than the originally expected US$514 billion, with an end-June balance of US$457 billion, less than the originally predicted US$850 billion.