And for Orrick, Herrington & Sutcliffe, which has the largest bond financing practice in the country, that meant holding the hands of a number of clients who were understandably nervous about issuing debt.

“For a week to 10 days the market was in disarray and a number of financings were postponed,” said Roger Davis, chair of Orrick’s public finance department. Now “the rates, if anything, have improved a bit” and the appetite for bonds has increased.

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