Holding out for perfect clarity could mean a missed chance, municipal bonds director tells InvestmentNews.
With municipal yields sitting at elevated levels, advisors face the challenge of how to guide clients who remained underinvested through 2025 without falling into the temptation to wait for perfect clarity.
According to Ben Barber, director of the Municipal Bond Department at Franklin Templeton, the current setup itself argues against inaction.
“Municipal bonds continue to exhibit appealing yields compared to recent historical levels,” Barber told InvestmentNews, adding that “their relative underperformance against other fixed income sectors in 2025 has led to improved relative valuations,” two factors he believes advisors should weigh carefully when considering entry points for clients.
Together, Barber noted, yield levels and relative value help frame today’s opportunity set and reduce the risk of waiting too long for certainty that may never arrive.
investmentnews.com
By Steve Randall
FEB 12, 2026