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The purpose of this article is to evaluate the AllianceBernstein Global High Income Fund (NYSE: AWF) as an investment option at its current market price. While AWF has performed well since I recommended it at the start of the year, there are a few negative developments that make me leery of holding it now. One, while the fund's discount to NAV is substantial (at almost 10%), AWF has a history of trading at a high discount, and the discount has shrunk in the near-term as the share price has risen. Two, AllianceBernstein