Municipal Commentary - HilltopSecurities

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Municipal Commentary

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Hot Inflation, Another Argument for Municipal Discipline

Hot CPI keeps the higher for longer rate story alive, even if energy drove the move.

The Fed Steps Back. Municipal Discipline Steps Forward

The Fed is not driving our municipal thesis this week. Tax-exempt income yields near (still) generational highs, disciplined maturity selection,...

A Stronger Jobs Report Gives the Fed Room to Wait

The May jobs report beat expectations, revisions moved prior months higher, and the mix of hiring suggested a labor market...

The Growing Divide Between Markets and Households and What It Means for Municipals

Equities are signaling optimism while households are signaling strain. That divide matters because investors and consumers are pulling in different...

PODCAST: The Oil Shock and the New Energy Reality

In the latest Hilltop Talks, Tom Kozlik sits down with Walter Kunisch, Senior Commodities Market Strategist at HTS Commodities, to...

Bloomberg Radio: What Municipal Bond Investors Want in Today’s Market; Bloomberg Munis in Focus

HilltopSecurities Head of Muni Strategy Tom Kozlik put munis in focus for Bloomberg Radio listeners this week, with a deep...

The Bond Buyer: Muni yields bumped, caps off strong week

Tom Kozlik, head of municipal strategy at Hilltop Securities, said strong institutional demand and fund flows throughout the year have...

Investors are Choosing Stability, Tax-Exempt Income, and the Bonds that Finance America’s Infrastructure

Investors are shifting capital into municipal bonds, with nearly $25 billion flowing into municipal mutual funds in 2026 so far...

The Bond Buyer: Munis see lighter new-issue calendar, more volatility next week

Next will be an opportunity for the market to take a deep breath to figure out what the summer will...

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