SWS' Municipal Market Virtual Town Halls
The recent global health crisis is testing what governments, financial markets, and individuals can reasonably withstand. The municipal market in particular has experienced historic volatility, severely limiting original issuance volume and causing rampant sell-off in the secondary market.
To keep you informed of the ever-changing market dynamics, SWS will be hosting Municipal Bond Market Virtual Town Halls on Mondays and Fridays at 4:00pm EDT throughout this period of market disruption. These semi-weekly webinars will allow our issuer clients to hear directly from the SWS municipal underwriting team, prominent guest economists, and municipal credit analysts. In addition, participants will have the ability to ask questions and hear responses from our speakers.
Register for Upcoming Town Halls
Date of Town Hall
Guest Speakers
Link to Register
May 11, 2020
Aaron Cunningham
Director of Research & Analytics
Pensions & Investments
May 15, 2020
Eric Glass
Portfolio Manager, Fixed Income Impact Strategies
AllianceBernstein
Jamiyl Flemming
Senior Vice President
Siebert Williams Shank
May 18, 2020
Emily S. Brock
Director, Federal Liaison Center
Government Finance Officers Association
May 22 and May 25, 2020
There will be no Town Hall due to Memorial Day.
May 29, 2020
Henry Cisneros
Vice Chairman
Siebert Williams Shank
Interviewed By John Hallacy
Contributing Editor & Program Manager
The Bond Buyer
Our Past Town Halls
Date of Town Hall
Guest Speakers
March 30, 2020
Matt Fabian
Partner & Head of Market and Credit Research
Municipal Market Analytics (MMA)
April 3, 2020
Jenna Magan
Partner
Orrick Herrington & Sutcliffe
Kevin Roche
Partner
Orrick Herrington & Sutcliffe
April 6, 2020
Carl B. Weinberg, PhD
Chief Economist & Managing Director
High Frequency Economics
April 13, 2020
Ian Shepherdson
Founder & Chief US Economist
Patheon Macroeconomics
April 17, 2020
Bill Cox
Senior Managing Director
Global Head of Corporation, Financial & Government Ratings
Kroll Bond Rating Agency
Karen Daly
Senior Managing Director
Public Finance/Financial Guaranty
Kroll Bond Rating Agency
Harvey Zachem
Managing Director, Public Finance
Kroll Bond Rating Agency
April 20, 2020
Chris Chafizadeh
Senior Managing Director
Assured Guaranty
Bill Hogan
Senior Managing Director
Assured Guaranty
April 24, 2020
Robert DiMella
Executive Managing Director, Co-Head of Municipal Managers
Mackay Shields
Frances Lewis
Senior Managing Director
Mackay Shields
Sewon Kim
Head of Transportation Group
Siebert Williams Shank
April 27, 2020
Jonathan B. Berk
A.P. Giannini Professor of Finance
Stanford Graduate School of Business
May 1, 2020
Michael Belsky
Senior Fellow, University of Chicago
Executive Director, Center for Municipal Finance
May 4, 2020
Brian Egan
Policy Director, National Association of State Treasurers
Association Director, State of Debt Management Network
May 8, 2020
Randi Weingarten
President
American Federation of Teachers
Disclosures
Disclosures about SWS’ Role as Underwriter, Not as Municipal Advisor
Siebert Williams Shank & Co., LLC (“SWS” or the “Firm”) is hosting this webcast (the “Webcast”) to provide you (the “Recipient”) with general market information as an underwriter or in anticipation of serving as an underwriter on a future transaction, and not as a financial advisor or a municipal advisor. The primary role of SWS, as underwriter, is to purchase securities with a view to distribution and/or for resale to investors in an arm’s-length commercial transaction with an issuer. SWS has financial and other interests that differ from those of issuers. An underwriter is required to deal fairly at all times with both issuers and investors. An underwriter has a duty to purchase securities from an issuer at a fair and reasonable price, but must balance that duty with its duty to sell municipal securities to investors at prices that are fair and reasonable. SWS, as underwriter, will review any official statement for the Issuer’s securities in accordance with, and as part of, its responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of the transaction.
SWS is not acting as a municipal advisor to the Recipient. Rather, as an underwriter acting for its own interest and unlike a municipal advisor, SWS does not have or owe a fiduciary duty to the Recipient pursuant to Section 15B of the Securities Exchange Act of 1934, as amended (the “Act”), and, therefore, is not required by federal law to act in the best interests of the Recipient without regard to its own financial or other interests. The Recipient should consult with its own financial and/or municipal, legal, accounting, tax and other advisors, as applicable, to the extent it deems appropriate before acting on any information or material provided during the Webcast. If the Recipient would like a municipal advisor and does not have one that owes fiduciary duties to the Recipient, then the Recipient is free to engage a municipal advisor to serve in that capacity.
No Recommendations or Advice
SWS is not recommending any action to the Recipient. Unless otherwise expressly stated therein, the information provided during the Webcast will consist of general information that is factual in nature and may incorporate certain hypothetical information based on the facts and assumptions described therein. Such information, hypotheticals, facts and assumptions are not intended to be or to imply a recommendation or to be construed as “advice” within the meaning of Section 15B of the Act.
Additional Disclosures and Disclaimer
All information presented during the Webcast will be obtained from sources believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to its accuracy or completeness. All information, hypotheticals, facts and assumptions (including prices, rates, yields and other calculations) are current only as of the time of the live Webcast and are subject to change without notice. Any estimations or hypothetical results based on market conditions or the occurrence of future events are based upon the best judgment of SWS from publicly available information as of the date of the live Webcast.
THERE IS NO GUARANTEE THAT ANY OF THESE ESTIMATES OR HYPOTHETICALS WILL BE ACHIEVED.
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