Municipal Commentary - HilltopSecurities

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Municipal Commentary

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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...

Selection Matters More as U.S. Municipal Credit Continues to Turn Lower

Credit strength is holding in some parts of the U.S. municipal market, but deterioration has continued in others, and the...

VIDEO: Muni Minute – Macro Fog Now, Yields Gone Later

In the latest MuniMinute, HilltopSecurities’ Tom Kozlik joins John Muschalek to break down the forces shaping municipal markets heading into...

The Threat to the Tax-Exemption Keeps Building Amid Quantitative Stress, Qualitative Drift

The municipal bond tax-exemption is not under an imminent attack, but the threat is still building in the background because...

Drift Toward Stability Confirmed by the First Four Months of 2026 Municipal Issuance

Four months into 2026, municipal issuance is tracking close to our expected pace, consistent with a disciplined normalization year.

The Bond Buyer: FOMC preview: What comes after Powell and what should investors do?

“With the Fed expected to hold steady, municipal investors’ focus should shift to the long-end where municipal-to-Treasury ratios still look...

The Bond Buyer: Reconciliation 2.0 a real possibility

“I think that if there’s going to be something that gets done before the midterms, it’s going to be something...

Powell, Warsh, the Fed Transition and Why Long-End Municipals Still Make Sense

With the Fed expected to hold steady, municipal investors’ focus should shift to the long-end where municipal-to-Treasury ratios (M/T ratios)...

The Bond Buyer: Munis close quiet ahead of Fed week

The Justice Department closed its criminal probe of outgoing Federal Reserve Chair Jerome Powell. The investigation had been holding up...

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