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From Budget Issues to Labor Challenges: Insights from the HilltopSecurities 2025 Public Finance Leaders Survey

HilltopSecurities’ Public Finance Leaders Survey, now in its second year, captures the priorities of U.S. public entities through insights...

Labor Pains, Rate Gains, and Why Muni Investors Can’t Wait

August payrolls rose by only 22,000, far below the 75,000 forecast, signaling a sharp labor market slowdown. The economy could...

Barron’s: Back-to-School Deals on University Muni Bonds

Political issues are largely “noise,” says Thomas Kozlik, head of municipal strategy at HilltopSecurities, but issues facing higher education more...

The Bond Buyer: Tax exemption targeted by think tank as GOP mulls another reconciliation tax bill

“Any situation where the tax exemption is not being prioritized as an important infrastructure tool is troubling,” said Tom Kozlik,...

VIDEO: Asset TV – The “Post-Golden Age Realignment”

Tom Kozlik, Head of Public Policy and Municipal Strategy at HilltopSecurities, shares his outlook on how the passage of the...

Fed Signals September Shift and Tax Threat Resurfaces

A September rate cut appears increasingly likely after Fed Chair Powell signaled a shift in policy and acknowledged rising economic...

VIDEO: Muni Minute – Navigating Market Shifts, Fed Uncertainty & the Post-Golden Age of Municipal Credit

In this Back-to-School Edition of Muni Minute, HilltopSecurities’ John Muschalek and Tom Kozlik unpack the latest market signals, from surprising...

The Municipal Bond Market’s Post-Golden Age Realignment

Municipal bond credit quality remains robust despite the conclusion of federal stimulus programs. Key indicators—including housing market performance, state reserve...

CNBC: The big opportunity in these tax-free bonds may be short lived — ‘the ship is leaving the port,’ says...

The opportunity to scoop up municipal bonds at attractive prices isn’t going to last forever, according to strategist Tom Kozlik....

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