Panelists at The Bond Buyer's 4th annual Infrastructure Conference, this year held in Boston, weighed in on everything from a likely government shutdown to the Trump administration's impact on infrastructure policy to 'lessons learned' during storied public finance careers among this year's Hall of Famers.
Below are some of the comments from participants throughout the first day of the conference.
On the looming government shutdown: "At some point one side is going to have to blink," Tim Monahan, vice president and managing director of government affairs for the U.S. Chamber of Commerce.
On the record volume of supply so far this year: "It's been a heck of an issuance year," Paul Creedon, managing director and head of national infrastructure at Janney Montgomery Scott LLC.
On the impact of Washington D.C. on infrastructure policy:
"The federal government can be helpful with respect to financing tools but the decisions rest with the states and local governments, they're the ones making the project decisions" David Narefsky, partner at Mayer Brown.
"We are definitely looking at an unprecedented approach to executive power with regard to infrastructure policy," Paul Creedon.
"More and more the political volatility is seeping into the market," Michael Gaughan, executive director of the Vermont Bond Bank.
On the Municipal Securities Rulemaking Board: "We see ourselves as a quieter lagoon in a vast tumultuous sea of D.C.," Ernie Lanza, the MSRB's chief regulatory and policy officer.
On the future of bonds: "I hope one day the muni industry can see munis on a blockchain; digital bonds I think would be fantastic for the muni industry." Hall of Famer Diana Hoadley, retired from Goldman Sachs & Co. LLC and J.P. Morgan.
On returning to the basics: "I miss the public interaction. I wish some of you would take a deep breath and take your [employees] over to the water and sewer plants, to the stadiums, showing them how it all gets done." Hall of Famer Noe Hinojosa, president of Estrada Hinojosa.
On future muni market challenges and opportunities: "We've gotten complacent with credit once again – there's going to be a climate tsunami." Hall of Famer Thomas Doe, CEO and founder of Municipal Market Analytics, Inc.
"The climate issue is an opportunity for our industry to lead, and it's going to be great for bringing people into our industry." Tom Doe.
