12% Dividend Yield? What's Not to Love?

You don't get the chance for a 12% dividend yield very often.

But that's what's on offer right now at (EDD Quote)Morgan Stanley's Emerging Market Domestic Debt fund (EDD).

Yep, 12%.

Anyone who buys into this fund is getting an awesome double whammy. Emerging-market government bonds have sold off in an irrational panic sparked by the subprime mortgage meltdown, so you're getting a great deal. (Bonds are like seesaws: When the price falls, the yield rises.) ...