WASHINGTON, April 30 (Reuters) - The U.S. Treasury said on Monday it expects to slow the pace of borrowing in the April-June period after debt sales surged earlier in the year following a law passed by Congress that lifted a cap on federal debt.
The Treasury Department said in a statement it expects to issue $75 billion through credit markets during the period, assuming an end-June cash balance of $360 billion. It also expects to issue $273 billion in net marketable debt in the July-September period.
In the first quarter, the Treasury borrowed $488 billion through credit markets. (Reporting by Jason Lange; Editing by Andrea Ricci)