Franklin Municipal Enhanced Income SMA Q1 2026 Commentary
Franklin Templeton·2026-06-24·via All Articles on Seeking Alpha
Summary
Selection in bonds rated A- and BBB. Security selection in the consumer non-cyclicals sector.
Security selection in A+ rated issues. Selection in the banking and capital goods sectors.
Quality allocation also boosted relative performance led by a lack of exposure to bonds rated BBB- and an overweight to bonds rated AAA.
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Key Takeaways
Markets: From late-February, the war in the Middle East dominated much of the news flow and financial market sentiment. The reaction in markets has evolved, initially seeing a traditional risk-off move in both the US
