The Bond Buyer: For 2022 muni supply projections, bears outweigh the bulls
"HilltopSecurities expects an 8% increase to $495 billion in 2022 because federal government funding, in aggregate, 'is going to support, not stymie municipal bond issuance in 2022 and even thereafter.
'The aid is boosting credit quality overall and that will help leaders in multi-year planning,' said Tom Kozlik, head of strategy and credit at HilltopSecurities. 'This relationship is an important driving factor and contrasts significantly with state and local governments’ positions in the wake of the Great Recession and especially from 2011 to 2014.' "