Municipal Commentary - HilltopSecurities

............

Municipal Industry Commentary

Filter Topics Below

All Videos Press Podcasts Commentary

Relative Value Remains Attractive as Economic Outlook Dims and Political Risks Rise

Municipal yields declined again last week, reinforcing the view that the window for an attractive entry point is narrowing. The...

August 2025 Muni MOment: A Patient Fed Navigates an Uncertain Economy

In July, the market continued to exhibit uncertainty about the confounding economic policy mix the Trump administration is implementing and...

Risk and Fragile Stability Persist as Public Pension Momentum Slows in 2025

Funded ratio improvements remain modest and fragile, with risks spanning the near to long term—driven by market volatility, concentrated equity...

Asset Contribution Structures in Higher Education: A Valuable Tool in the M&A Playbook

As the higher education sector continues to confront enrollment declines, financial pressures, and shifting market demands, mergers and acquisitions (M&A)...

Market Recalibration Ignites a Summer 2025 Municipal Bond Opportunity

Municipal bonds are undervalued—don’t wait. Generationally attractive tax-exempt yields are still available. M/T ratios are flashing strong relative value. Heavy...

VIDEO: Muni Minute – From Inflation to Opportunity: Seizing the Muni Moment Before the Window Closes

In the latest Muni Minute, HilltopSecurities’ John Muschalek and Tom Kozlik dive into the newly passed tax package, discussing what...

Manufacturing Revival Meets Economic Reality

“Liberation Day” has fueled calls to revive U.S. manufacturing, but economists warn a manufacturing job renaissance is unrealistic. The emotional...

The Bond Buyer: Muni market expands during Q1, could continue growing, experts say

Currently, “the market seems well equipped to absorb this growth,” said Tom Kozlik, managing director and head of public policy...

Infrastructure, Muni Investors, and Trump Score Big with the OBBBA

The One Big, Beautiful Bill Act of 2025 (OBBBA) marks a signature legislative win for President Trump’s second term, preserving...

Follow Tom Kozlik
on X @tomkozlik

Follow the latest updates and topical discussions
from Tom on X.

Sign Up for Updates

follow the latest Municipal Industry Commentary

Learn More From HilltopSecurities

Commentary Overview

Economic Commentary

Thank you for visiting the HilltopSecurities website.
For best viewing experience, we recommend using Chrome, Firefox, Safari, or Microsoft Edge.