In general, if $E_i$ is a $\mathbb R$-vector space and $\langle\;\cdot\;,\;\cdot\;\rangle$ is a duality pairing between $E_1$ and $E_2$ and $$p_{x_2}(x_1):=q_{x_1}(x_2):=\left|\langle x_1,x_2\rangle\right|\;\;\;\text{for }(x_1,x_2)\in E_1\times E_2,$$ then $p_{x_2}$ is a seminorm on $E_1$ for all $x_2\in E_2$ and $q_{x_1}$ is a seminorm on $E_2$ for all $x_1\in E_1$.
Hence, $\left\{p_{x_2}:x_2\in E_2\right\}$ is inducing a locally convex topology $\sigma(E_1,E_2)$ on $E_1$ and $\left\{q_{x_1}:x_1\in E_1\right\}$ is inducing a locally convex topology $\sigma(E_2,E_1)$ on $E_2$.
If $\varphi\in E_1^\ast$, we can show that $\varphi$ is $\sigma(E_1,E_2)$-continuous iff $\varphi=\langle\;\cdot\;x_2\rangle$.
By the aforementioned result, we are able to identify $$E_1':=\left\{\varphi\in E_1^\ast:\varphi\text{ is }\sigma(E_1,E_2)\text{-continuous}\right\}$$ with $E_2$. Does that mean $E_1'$ is again a locally convex topological vector space when endowed with the topology $\sigma(E_2,E_1)$?
I'm mainly interested in the following instance: Let $E_1:=C_b(E)$ be the set of real-valued bounded continuous functions on a metric space $E$, $E_2:=\mathcal M(E)$ denote the set of finite signed measures on $\mathcal B(E)$ and $$\langle f,\mu\rangle:=\int f\:{\rm d}\mu\;\;\;\text{for }(f,\mu)\in C_b(E)\times\mathcal M(E).$$
If $E_1=C_b(E)$ is equipped with the supremum norm, we may identify $\mathcal M(E)$ with a subset of $C_b(E)'$. How is $\sigma(E_2,E_1)$ related the the subspace topology on $\mathcal M(E)$ induced from the weak* topology on $C_b(E)'$?