Municipal Commentary - HilltopSecurities

............

Municipal Commentary

Filter Topics Below

All Videos Press Podcasts Commentary

The Return of Higher Yields Rewards Investors and Tests Borrowers

Strong demand has absorbed potentially record-breaking issuance, but improving relative value may now be the stronger municipal market signal.

CNBC: The Fed rate hike opens up an opportunity for muni bond investors

Muni ratios refer to the difference in the yields between munis and Treasurys of the same maturities. However, while yields...

PODCAST: U.S. Federal Debt and the Rising Cost of Financing America

With federal debt surpassing $40 trillion and debt held by the public reaching 100% of GDP, how did the U.S....

Barron’s: Muni Bonds Are Yielding 5%. They Rival Stocks Now.

“I wouldn’t be dipping my toe in the water. I would be jumping in,” says Tom Kozlik, head of municipal...

The Bond Market Selloff Is Making Attractive M/T Ratios the New Municipal Opportunity of 2026

Strong demand has absorbed potentially record-breaking issuance, but improving relative value may now be the stronger municipal market signal.

The Bond Buyer: Muni tax exemption under fire

“We got through the big, beautiful bill, and there are people who think that the threat is over,” said Tom...

Warsh Calls on the Fed to Meet the Moment as Rate Hike Odds and Municipal Yields Rise

At Jackson Hole, Warsh’s remarks, titled “In Our Time,” framed the changing economy as a period of profound technological and...

Debtwire: Muni credit divide could widen as U.S. debt tops 40tn

In a 20 August commentary, Tom Kozlik, head of public policy and municipal strategy at HilltopSecurities, wrote that rising debt...

Barron’s: Higher Yields Are a Boon for Muni Bond Buyers

The rise in bond yields has been a good news/bad news story. For the U.S. Treasury, the increase has been...

Follow Tom Kozlik
on X @tomkozlik

Follow the latest updates and topical discussions
from Tom on X.

Sign Up for Updates

follow the latest Municipal Commentary

Learn More From HilltopSecurities

Commentary Overview

Economic Commentary

Thank you for visiting the HilltopSecurities website.
For best viewing experience, we recommend using Chrome, Firefox, Safari, or Microsoft Edge.