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By HilltopSecurities

Municipal Commentary

The municipal bond market enables more than 50,000 state and local governments, agencies, and authorities to fund a variety of public works projects. However, the breadth of the market and its tax advantages leave it subject to the mandates of regulatory agencies and legislators. Our municipal commentary helps you stay up to date on the latest market headlines and trends.

Tom Kozlik is the Head of Municipal Research and Analytics for HilltopSecurities. He distributes widely read municipal commentary and frequently contributes to national media outlets. With over two decades of experience in the fixed income industry, Kozlik is a nationally recognized strategist who brings unique insight and perspectives to his commentary and analysis of municipal market trends, opportunities, and challenges. For 2018-2021, Smith’s Research and Gradings included him on the first team in the generalist category of its Municipal All-Star Team, in addition to the third team in the sellside director of research category for 2020 and 2021.

He was voted to Institutional Investor’s All-America Fixed-Income Research Team and Greenwich Associates named him one of the Most Helpful Analysts in Municipal Bonds in 2015. In addition, Kozlik has taught graduate-level public finance courses at the University of Pennsylvania’s Fels Institute of Government, where he earned a Masters of Government Administration.
January 04 , 2021

Georgia Run-Offs Begin New Year, Important to Watch for Credit Quality

The COVID-19 daily cases, deaths and hospitalization numbers continue to worsen. December saw a record 77,000 deaths in the U.S. Dr. Anthony Fauci...

September 25 , 2020

How Long Will We Work From Home?

There is evidence supporting the idea that employees may work from home on a larger scale after COVID-19 than before the pandemic. In the nearterm,...

April 28 , 2020

2020 Municipal Bond Analyst Survey

Unsurprisingly, the coronavirus (COVID-19) pandemic was named (by 92% ofthose surveyed) the most important issue/trend influencing the municipal bond...

December 18 , 2019

The U.S. Municipal Bond Market in 2020, in the Last Decade, and in the Next

We took a look back at several events that helped shape what we describe as the
most eventful decade for the municipal bond market, ever.


July 26 , 2019


The ultimate recoveries in the Stockton, CA and Detroit, MI bankruptcies gave general government investors unease about how they might be treated in...

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on Twitter @tomkozlik

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