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[$$] A Bond Fund That Has Delivered 8% Returns

Emerging market bonds have hit a rough patch. Falling currencies, rising interest rates, and worries about a trade war have pushed returns down 3.8% this year—a sharp reversal from 2017, when dollar-based emerging market bonds returned 10.3% (including interest payments). “This isn’t the worst market I’ve seen, but it’s been very difficult,” says Penelope Foley, co-manager of the TCW Emerging Markets Income fund.