Municipal Commentary - HilltopSecurities

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Municipal Commentary

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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...

The Market Thought Lower Rates Were Coming

The market is undergoing a broad repricing of risk and the cost of money as sticky inflation, reduced Federal Reserve...

The Bond Buyer: Munis narrowly mixed, USTs stronger

UST investors have been navigating volatility from the war in Iran and the national deficit for months, said Tom Kozlik,...

The Bond Buyer: Fundamentals no longer mean ‘uniform’ credit outcomes

Other times downgrades have outpaced upgrades include during and/or just after the Great Financial Crisis and the COVID-19 crisis, said...

The Bond Buyer: Treasury buyback likely to have little impact on muni market

As federal officials look for revenue or budget savings, the tax exemption could become a target as it was in...

VIDEO: Asset TV – Credit, Demand and the $40 Trillion Debt Question

HilltopSecurities’ Tom Kozlik discusses the outlook for municipal credit, the strength of investor demand in 2026, and what rising federal...

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