Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities, initially predicted 2023 would see $350 billion of muni bond issuance. While "the pace through the first five months of the year is slightly below our forecast, we still think $350 billion is a good forecast," he said. "Nothing meaningful has changed since November 2022 (when we initially published our forecast) that would lead us to think issuance will deviate from our initial expectation — not yet anyway."

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