Municipal Commentary - HilltopSecurities

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Municipal Commentary

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February’s Playbook: Flows Stay Loud, Credit Selection Matters

Municipal bond demand remains strong, with year‑to‑date mutual fund inflows already more than double the pace of early 2025 and...

The Municipal Market in 2026, HilltopSecurities’ Sector Credit Outlooks

2026 is a “discipline year” for municipals. The post‑2020/2021 subsidy glow is fading, rating momentum is normalizing (upgrades still lead,...

January 2026 Was an Important Month for U.S. Municipals

Very strong January municipal bond demand was key for the market. More than $7 billion flowed into municipal bond funds,...

PODCAST: The Importance of Federal Reserve Independence — What Happens Before May?

In the latest episode of HilltopTalks, HilltopSecurities’ Tom Kozlik sits down with Scott McIntyre, Co-Head of Investment Management for HilltopSecurities...

VIDEO: Muni Minute – Inside the Muni Rebound: Key Trends to Watch in 2026

In this week’s Muni Minute, Tom Kozlik and John Muschalek break down the early 2026 muni market rebound — where...

The Bond Buyer: Munis steady ahead of January FOMC meeting

Nearly $5 billion has flowed into mutual funds so far in January, making this the heaviest January since 2021, when...

Fed Week: Heavy Flows Meet Light Supply, Powell in Focus (Jan. 27-28)

Nearly $5 billion has flowed into municipal mutual funds so far in January (including $994 million last week), colliding with...

2025 Municipal Bond Analyst Survey

The results are based on a survey conducted by HilltopSecurities in December 2025 & January 2026. The data was collected...

Money Moving Into Municipals as Yields Slip Again Last Week

The risk tone remains steady, the Fed meets Jan. 27–28 with no change expected after three 2025 cuts, and the...

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