Municipal Commentary - HilltopSecurities

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Municipal Industry Commentary

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Finishing 2025 with Patience, “Range-bound” Until New Signals Arrive

The labor market is still bending or softening, not breaking, with October payrolls down 105,000 and November up 64,000, and...

Why the Fed’s Likely Dec. 10 Move Matters for Municipal Investors

The U.S. FOMC is poised to ease, and futures markets signal an almost certain quarter-point rate cut at the Dec....

The Bond Buyer: Congressional turnover could sink second reconciliation

“I’ve been thinking about the President talking about this potential tariff rebate,” said Tom Kozlik, managing director, head of public...

Smith’s Research & Gradings: High Yield Municipal Monitor

The Market’s appetite for municipal bonds Is likely to pick up, according to Hilltop Securities. Tom Kozlik, municipal policy strategist,...

Rate Cut Expectations Surge, Could Mean Renewed Momentum for Municipals

Now the odds of a Dec. 10 rate cut are not just more than likely. A cut is now expected....

Markets Swing and Fed Expectations Shift While Municipals Hold Steady

Fed expectations have been swinging wildly and are likely to remain volatile ahead of the December 9-10th meeting, creating uncertainty...

VIDEO: Muni Minute – Signal Hunting is Back

After the longest federal government shutdown in history, HilltopSecurities’ Tom Kozlik returns with timely insights into what lies ahead for...

September Jobs Data Clears One Cloud, But the Forecast Stays Gray and Unclear

The September jobs report beat expectations with 119,000 new jobs, but a five-month average of only 39,000 and unemployment rising...

Importance of the Signal Hunt Intensifies as Market Sentiment Shifts

Market expectations have moved from anticipating a December rate cut to questioning whether the Fed will act at all, as...

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