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EHI: Widening Discount Adds Appeal, But Remain Cautious

The Western Asset Global High Income Fund offers a 14%+ yield but faces significant distribution coverage shortfalls, raising the risk of a cut. EHI now trades at an over 9% discount, making entry more attractive, though not at a historical extreme; further discount widening is possible if a cut occurs. The fund's portfolio is heavily tilted toward below-investment-grade and emerging market debt, but broad…

Seeking Alpha • Jun 30, 2026

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