Hilltop Securities Inc.

HilltopSecurities' John R. Muschalek and Tom Kozlik sit down for the 10th installment of The Muni Minute. In this episode, the pair discuss the impact of recent rate cuts on municipal bond investments, Tom’s bold $745 billion issuance forecast for 2025, and the potential effects of tax policy changes under the new administration. They also share takeaways for investors as we wrap up 2024 and look ahead to a dynamic year in the municipal market. To watch the latest episode, click here: https://lnkd.in/gMgCKgJp #HilltopSecurities #MuniMinute #TaxPolicy

Happy Holidays from HilltopSecurities! May your day be filled with friends and family. #HilltopSecurities #HappyHolidays

A key inflation measure showed unexpected cooling in November, sending bond yields lower across the maturity curve. Earlier this week, Fed officials had indicated inflation would remain elevated for longer. This concern, along with a correspondingly lower interest rate forecast, prompted a dramatic market selloff Wednesday afternoon. This morning’s report suggests the path of inflation (for the time being anyway) is still downward. Stocks and bonds have responded positively in early trading. To read our latest Economic Commentary by Senior Portfolio Manager Scott McIntyre, CFA click here: https://lnkd.in/gVz4rgm5 #HilltopSecurities #EconomicCommentary #Inflation

HilltopSecurities is proud to partner with the AT&T Performing Arts Center in Dallas in bringing Camp Christmas to families in North Texas. Even Mo the Buffalo got to welcome attendees to Strauss Square. We hope everyone has enjoyed the exhibit and all the holiday cheer it brings. Happy Holidays! #HilltopSecurities #CampChristmas #HappyHolidays

In the latest episode of HilltopTalks, Tom Kozlik is joined by Kris Johnson, CFA, Senior Vice President, Financial Strategies Team, at HilltopSecurities. Together they discuss the 2025 economic outlook, including recent interest rate cuts and market volatility, as well as the implications of the "red wave" election and its potential impact on regulatory policies, mergers, and acquisitions. To listen to the latest episode, click here: https://lnkd.in/gANFQVx7 #HilltopSecurities #HilltopTalks #RedWave

U.S. retail sales topped forecasts last month on continued strength of vehicle purchases. The +0.7% headline increase was above the +0.6% median forecast as well as the revised +0.5% October gain. Continued resilience by U.S. consumers will ultimately slow the 2025 easing pace, but nothing in this morning’s report should derail tomorrow’s widely-expected quarter point rate cut. To read our latest Economic Commentary by Senior Portfolio Manager Scott McIntyre, CFA click here: https://lnkd.in/gi-32DMp #HilltopSecurities #EconomicCommentary #RetailSales

HilltopSecurities recently welcomed Ari Kavour as Executive Managing Director, Head of Structured Finance and Structured Products Group. In his new role, Kavour will focus on expanding the firm’s mortgage backed sales and trading, as well as expanding the firm’s New York presence across all product segments. Kavour has over 29 years of experience in the mortgage trading, sales, and finance business, most recently at Wells Fargo where he served for five years as Head of Mortgage Finance. Please join us in welcoming Ari to the Herd! #HilltopSecurities #NewHire #JoinTheHerd

HilltopSecurities is proud to be the exclusive Starry Nights Buffalo Sponsor at Shelby Farms Park Conservancy in Memphis, Tennessee. Starry Nights is a drive thru, walking, or biking holiday lights trail benefiting Shelby Farms Park. The event is going on now until December 29th. For more information, click here: https://lnkd.in/g6qtNeRE #HilltopSecurities #StarryNights #HolidayLights

The November Consumer Price Index (CPI) came in as expected, with the monthly and annual headline and core all equaling median forecasts. The all-item CPI rose +0.3% last month, while the annual pace of inflation rose from +2.6% to +2.7%. Core CPI increased by +0.3% in November and held steady at +3.3% for the year. Shelter costs, the most stubborn of the inflationary components, was up +0.3% for the month and +4.7% year-over-year. Despite the smallest annual gain in nearly four years, shelter contributed roughly 40% to the overall increase. To read our latest Economic Commentary by Senior Portfolio Manager Scott McIntyre, CFA click here: https://lnkd.in/gvM3ky6j #HilltopSecurities #CPI #Inflation

Congratulations to HilltopSecurities’ client, Dallas Fort Worth International Airport (DFW) and its owner cities, Dallas and Fort Worth, for earning The Bond Buyer’s 2024 Southwest Region Deal of the Year. HilltopSecurities served as co-financial advisor on the deal along with Estrada-Hinojosa. The deal included the creation of a $600 million extendable commercial paper (ECP) program for interim financing, marking the first time an airport utilized the product. The deal also included $723 million in permanent financing. #HilltopSecurities #BondBuyer #DealoftheYear