Three Seeking Alpha updates from Franklin discuss Q1 2026 outlooks for separately managed account (“SMA”) ladder strategies across different maturities. One article covers a corporate ladder focused on the 1–3 year segment, while the second covers a municipal ladder also targeting the 1–3 year segment. A third article addresses a municipal ladder strategy spanning the 5–20 year range. While the provided excerpts do not include specific performance figures or detailed market commentary, the shared theme is that Franklin publishes Q1 2026 commentary tailored to each ladder mandate’s maturity profile and asset class exposure (corporate versus municipal). The corporate and municipal 1–3 year commentaries focus on shorter-duration holdings, which typically respond more directly to near-term rate changes. The 5–20 year municipal commentary focuses on longer-duration exposure, which generally ties more closely to movements across the intermediate-to-long end of the yield curve. Across the set, the reporting structure aligns with regular quarterly updates for SMA ladder portfolios rather than a single event, and it is organized by account type and maturity range.