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The purpose of this article is to evaluate the AllianceBernstein Global High Income Fund (AWF) as an investment option at its current market price. AWF is a fund I continuously monitor, and have often recommended, due to its global, high-yield focus. While it has performed well over time, I shifted to a more bearish stance on the fund earlier this year, on the backdrop of a distribution cut. I rarely, if ever, view such cuts positively, and I felt this development would lead to marked under-performance of the fund.