Government bond yields in emerging market countries like India and Mexico will receive a bump from a sustained low oil price environment, a fixed income portfolio manager said Monday.
"The yields in many emerging market countries are trading at wide levels relative to [investment grade] corporate bonds here in the United States, in some cases the widest since the financial crisis. So, while there are challenges, we think there's also an opportunity there," John Bellows, portfolio manager and research analyst at Western Asset Management, told CNBC's "Power Lunch."