Public finance

The CTA's funds have been "put on hold to ensure funding is not flowing via race-based contracting," Office of Management and Budget Director Russell Vought said.

Public finance attorney James Woodward will lead the firm's new Athens office.

The county will tap reserves and eliminate vacant positions to meet budget challenges driven by billions of dollars of child sexual abuse settlements.

"While the shutdown will eventually be resolved, present circumstances may catalyze tactical investment opportunities as a way to capture even more compelling yield and income opportunities," said Jeff Lipton, municipal market intelligence analyst for The Bond Buyer.

The rating agency cited narrowing reserves and the expectation that the city will experience declining revenues next year.

The Baa3 rated government will now have more trouble supporting the struggling Guam Memorial Hospital, Moody's Ratings said.

Political dysfunction is far and away the leading economic and policy concern for muni market participants, according to a new Bond Buyer infrastructure survey.

If the shutdown lingers, disruption to key economic data releases could increase market uncertainty, said Tom Kozlik of HilltopSecurities.

Sophisticated issuers and investors shared insights into how they navigate the complexities of the municipal bond market at The Bond Buyer Infrastructure event.

Four hired as counsel and seven other staff members are bulking up the team's D.C. and New York offices. 

Two months after property tax payments would normally be due, Cook County, Illinois, is still struggling to send out accurate bills for the second part of 2024.

Nearly $29 billion of the $30 billion cap has been allocated, said Morteza Farajian, director of the Department of Transportation's Build America Bureau.

October has historically not been "particularly kind to the municipal market, as it tends to be one of the heavier supply months of the year," said Daryl Clements, a portfolio manager at AllianceBernstein.

Pausing federal funding creates another hardship for municipalities who are also reeling from infrastructure grants being clawed back by the U.S. Department of Transportation.

At The Bond Buyer's infrastructure conference, panelists speculate about the reliability of federal funds under the current administration.

"I love solving complicated problems faced by our local governmental clients," Leslie Bacon. "We come up with strategic solutions that have a real impact on our communities." 

"The intersection between the public impact and the financial markets is unique and it brings a lot of good people to the same place. I really enjoy being a part of this community," Connor Benoit said.

"I'm really proud that my team genuinely looks to me for coaching and leadership," said Joe Buckshon. "It means a lot to me to be able to help someone."

"I made a promise to myself that in addition to supporting my clients, I wanted to try to be a strong role model for other women in the sector," said Alexandra Byrnes.

Since joining Orrick in Los Angeles more than a decade ago, Steffi Chan has brought her technical expertise and leadership skills to her local government and state agency clients.