WASHINGTON -- The Treasury Department is expected next week to scale back its estimate of its borrowing needs for this quarter as it prepares for the regular quarterly refunding to be held in August.

Before the last refunding in May, the Treasury gave a preliminary estimate for net marketable borrowing in the range of $110 billion to $115 billion in the third quarter. Now, according to private economists and Office of Management and Budget figures, a more realistic estimate would be in the range of $90 billion to $95 billion -- still a lot of demand for credit, but not as much as the Treasury suggested in the spring.

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