The debt also can be used to limit volatility in the emerging-market portion of a portfolio, Mr. Harting says.

WSJ: The Allure of Emerging-Markets Bonds

Another fan of emerging-market debt: Morgan Harting, senior portfolio manager and emerging-markets multi-asset team leader at AllianceBernstein Investments Inc.

WSJ: The Allure of Emerging-Markets Bonds

At the most basic level, Mr. Harting says, emerging-market debt offers investors higher yields than are generally available in developed markets.

WSJ: The Allure of Emerging-Markets Bonds

"We believe this announcement is a considerable positive given reduced liquidity risk and would expect investors to again focus on SLM's profitability and growth potential, " Lehman Brothers analyst Bruce Harting told Reuters.

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However, the biggest cheer of the night at an electric Olympic Stadium was reserved for Germany's Robert Harting, who dramatically won the men's discus gold with his sixth and final throw of 69.43 meters.

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