Smith's Municipal Bond Conference
Join Smith's on July 21-22 as industry leaders meet at Smith's 2022 Muni Bond Conference in Newport, Rhode Island.
An economic hurricane may be on the horizon, but Smith's Cadre of Regulars will be preparing to ride out the storm in Newport, Rhode Island on July 21-22 for the 2nd annual Municipal Bond Conference.
Market strategists will tackle today's top issues such as economic indicators — rates, spreads, supply and demand. Do you wonder what sectors are buy, sell, or hold — Smith's conference has the answers. Municipal analysts will discuss the growing trend of incorporating ESG in municipal bond portfolios. The Federal stimulus money has produced a surplus revenues in state and local government coffers, but could the coffers be emptied by a massive hack in muniland? With the push towards clean energy, grid reliability is under stress. New York Power Authority will explain their challenges and what they are doing to reduce CO2 and meet customer needs.
With a focus on leading indicators in a post-pandemic world, market participants will discuss their outlook for the municipal bond market in 2022 and beyond.
Sponsors
Bronze
Cocktail Sponsor
Breakfast
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To find out how your firm can maximize its presence at Smith's Muni Bond Conference with a Sponsorship Package,
please contact Pamela Kilbourn at (571) 299-4954
Smith's Municipal Bond Conference
Join Smith's on July 21-22 as industry leaders meet at Smith's 2022 Muni Bond Conference in Newport, Rhode Island.
An economic hurricane may be on the horizon, but Smith's Cadre of Regulars will be preparing to ride out the storm in Newport, Rhode Island on July 21-22 for the 2nd annual Municipal Bond Conference.
Market strategists will tackle today's top issues such as economic indicators — rates, spreads, supply and demand. Do you wonder what sectors are buy, sell, or hold — Smith's conference has the answers. Municipal analysts will discuss the growing trend of incorporating ESG in municipal bond portfolios. The Federal stimulus money has produced a surplus revenues in state and local government coffers, but could the coffers be emptied by a massive hack in muniland? With the push towards clean energy, grid reliability is under stress. New York Power Authority will explain their challenges and what they are doing to reduce CO2 and meet customer needs.
With a focus on leading indicators in a post-pandemic world, market participants will discuss their outlook for the municipal bond market in 2022 and beyond.
Sponsors
Bronze
Cocktail Sponsor
Breakfast
To find out how your firm can maximize its presence at Smith's Muni Bond Conference with a Sponsorship Package,
please contact Pamela Kilbourn at (571) 299-4954
Agenda
Thursday, July 21, 2022
8:30 am
CONFERENCE REGISTRATION
Continental Breakfast
Sponsored By:
Fitch Ratings
9:00 am
WELCOME
The Honorable Jeanne-Marie Napolitano
Mayor
City of Newport, Rhode Island
9:15 am
RISING RATE ENVIRONMENT UNDERSCORES THE IMPORTANCE OF RATINGS
It's a good news/ bad news situation. Revenues are up for state and local governments and there has been a massive number of upgrades in 2022. But will the lingering effects of the Covid "Endemic" be problematic? The near-term economic outlook has been described as a hurricane. Back to the office has been sluggish in many areas of the country. Are these credit factors that are considered in rating assessments? Panelists will also talk about the various approaches to ESG and whether it has become politicized.
Ian Rogow (Moderator)
Director, Co-Head Municipal Bond Research
BofA Securities
Michael Rowan
Managing Director, Global Public, Project and Infrastructure Finance Group
Moody's Investors Service
Eden Perry
Head of U.S. Public Finance
S&P Global Ratings
Arlene Bohner
Head of U.S. Public Finance
Fitch Ratings
10:15 am
COFFEE NETWORKING BREAK
10:30 am
ESG INVESTING
Funding projects for the public good is the underlying purpose the municipal bond issuance. ESG investing continues to be a major topic of discussion in the municipal bond market as more ESG bonds are issued and Investors, Issuers and Regulators work to formalize the framework. Panelists will discuss how ESG factors can be incorporated into portfolios; funding efforts to address ESG principles; as well as potential credit risks associated with this growing phenomenon.
Leonard Jones
Managing Director
Moody's Investors Service
Nora Wittstruck
Senior Director – ESG Sector Leader
S&P Global Ratings
Samantha Favis
Vice President
Morgan Stanley
11:15 am
MUNI MARKET STRATEGIES
Our panel of experts will weigh in on municipal market trends for rates, spreads, supply and demand, and what sectors are buy, sell, or hold. How much of the market is driven by Fundamentals vs.Technicals? How is the current economic environment impacting credit quality?
Mikhail Foux
Managing Director
Barclays Investment Bank
Tom Kozlik
Head of Municipal Strategy and Credit
HilltopSecurities Inc.
Michael Zezas, CFA
Managing Director
Morgan Stanley
Ian Rogow
Director, Co-Head Municipal Bond Research
BofA Securities
12:15 pm
LUNCHEON
1:30 pm
STATE AND LOCAL GOVERNMENTS
With strong revenue collections and federal stimulus dollars in their coffers, states and local governments are well positioned to face the current economic challenges, at least in the short term. Panelists will discuss how state and local governments are managing these surplus funds, whether it’s replenishing rainy-day reserves, pursuing tax rate reductions, addressing pension liabilities, or spending for social services.
Geoffrey Buswick (Moderator)
Managing Director & Sector Lead
S&P Global Ratings
Susannah Page
Senior Vice President, Manager of Research
Roosevelt & Cross, Inc.
Additional Panelists to be Announced
2:15 pm
DECARBONIZATION OF ELECTRICITY IN NORTHEAST FROM A PUBLIC POWER UTILITY PERSPECTIVE
As the Nation decarbonizes its electricity sector, each region features unique challenges. New England for example faces the stress of having natural gas as dominant fuel while cold winters are costly. The potential for Hydro Quebec to be a major partner for cleaner energy in both New York and New England have real possibilities including hydro being used as storage balancing for renewable energy and its intermittency. As the transportation sector becomes the responsibility of the electric utility sector, reliability makes for a major challenge.
Dan Aschenbach (Moderator)
President
AGVP LLC
Adam Barsky
CFO
New York Power Authority
John Murphy
Director
PFM
Dennis Pidherny
Managing Director
Fitch Ratings
3:15 pm
COFFEE NETWORKING BREAK
3:30 pm
PANEL TO BE ANNOUNCED
4:00 pm
MUNI BOND MARKET SUMMIT AND ROUNDTABLE DISCUSSION
Leaders from the municipal bond market will be talking about their work on Wall Street to build back the investment process. Specific topics will include: Inside the Washington Beltway lobbying; The growing role of taxable municipal bonds; and The muni high yield bond market. These experts will lead a discussion with audience participation.
Bill Black, CFA
Managing Director, Senior Portfolio Manager
City National Rochdale
Bob Spangler
Managing Director & Head of Municipal Finance
RBC Capital Markets
Additional Panelists to be Announced
4:45 pm
DAY ONE CONCLUDES
5:00 pm
MUNI BONDS ON THE HALF SHELL - COCKTAIL RECEPTION
Sponsored By:
HilltopSecurities
Friday, July 22, 2022
7:30 am
CONFERENCE REGISTRATION
Continental Breakfast Sponsored By:
Fitch Ratings
8:30 am
WELCOME
Terence Smith
Chairman & CEO
Smith's Research & Gradings
8:45 am
CYBER RISKS IN MUNILAND
Cyber attacks continue to wreak havoc in muniland and hackers are growing in sophistication. More companies are offering security services, new monitoring capabilities and defensive measures to mitigate the impact of these attacks. Like physical infrastructure, cyber infrastructure needs to be managed, maintained and upgraded. Processes must be in place to reduce the risk of a successful attack. Panelists will discuss the current state of cyber risks in muniland and what analysts should be looking for when assessing credit risks.
Hans Holmer
CISO
Smith Information Services LLC
Former CIA Case Officer
Omid Rahmani
Associate Director
Fitch Ratings
Additional Panelists to be Announced
9:30 am
PANEL TO BE ANNOUNCED
10:15 am
COFFEE NETWORKING BREAK
10:30 am
INFRASTRUCTURE
Panelists will focus on the role of the private sector in infrastructure financings
Kurt Forsgren
Managing Director - Sector Lead
S&P Global Ratings
Damian Georgino
Partner
Womble Bond Dickinson LLP
Additional Panelists to be Announced
11:15 am
HOW BOND INSURANCE CAN HELP IMPROVE MARKET ACCESS
Randy Gerardes
Managing Director, Public Finance Marketing
Assured Guaranty
Additional Panelists to be Announced
12:00 pm
CONFERENCE ADJOURNS
Registration Fees
$1,250 per person Standard Rate: (Broker/Dealer & Underwriting Firms, Sell-Side Firms, Commercial Banks, Financial Advisors, Attorneys, Credit Enhancers, Corporate Trust, Rating Agencies)
$700 per person Investor Rate: (Mutual Funds, ETFs, Hedge Funds, Asset Managers, Portfolio Managers)
$400 per person Issuer/Governmental Rate
Registration fee includes course materials, breakfast, lunch, and breaks during the conference.
Payment by credit card, company check or personal check is required prior to the event.
Group Discounts
Groups of 3 or more Standard Rate — $1,125 per person.
Groups of 3 or more Investors — $630 per person.
Groups of 3 or more Issuer/Governmental Rate — $360 per person.
Cancellations
Cancellations are subject to a $100 service fee. Cancellations will be accepted up to 30 days prior to the Conference in order to receive a refund. Cancellations after the 30 day cut-off will receive a registration credit toward a future Smith’s conference program. Credits will be issued at the paid registration rate and will be valid for 12 months. Registration credit requests must be received by the last day of the conference.
Substitutions
Substitutions from your company will be accepted any time prior to the conference.
Program Cancellation
In the event that Smith's Research & Gradings cancels a scheduled program, all registrants will be notified in writing via email.
Registration fees will be refunded. In the event that the scheduled program is canceled, Smith's Research & Gradings cannot be held liable for non-refundable transportation costs. In the case of inclement weather, or acts of God, if the scheduled program takes place, the registration fee is not refundable.
Complaint Resolution
Address any complaints to Pamela Kilbourn, Smith's Research & Gradings, P.O. Box 1195, Great Falls, VA 22066; email to pamkilbourn@smithsresearch.net or phone (571) 299-4954. Complaints will be handled in as timely a manner as possible.
Privacy Policy & Records Retention
Smith's Research & Gradings values your privacy. Smith's retains information submitted during the registration process with regard to your name, company and contact information. We will never willfully sell, lease, or rent any of your personally identifiable information to any third party
As a Smith's Conference attendee, you will receive a complimentary edition of Smith's Research & Gradings — the leading independent source for credit opinions.
Registration
Business Casual
Register by Phone: (571) 299-4954;
Email: smiths@smithsresearch.net ;
Online: Smith's Store
Mail: TMS Holdings, Inc., P.O. Box 1195, Great Falls, VA 22066
Payment
Payment is required prior to the conference. We accept company or personal checks; MC, Visa, American Express and Discover credit cards or, via PayPal using all major credit or debit cards.
Hotel Viking, One Bellevue Avenue, Newport, RI 02840
Phone: 401-847-3300
A block of rooms is being held until June 20, 2022 for Smith's Research & Gradings at a rate of $329 per night. Please follow this link for reservations: Room Reservations
Or call the reservations team at 401-847-3300.
