In the third quarter of 2025 (Q3), new issuance of municipal bonds exceeded the average seen in the past few years, driven by a 34% year-over-year surge in July issuance.
Franklin Municipal Enhanced Income SMA Q3 2025 Commentary
In the third quarter of 2025 (Q3), new issuance of municipal bonds exceeded the average seen in the past few years, driven by a 34% year-over-year surge in July issuance.