WSJ Wealth Adviser Briefing: Far-Flung Bonds, Tech Talent Diversity, Cheating in Online School

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A lesser-known stock index lost its biggest driver after Tesla Inc. joined the S&P 500, potentially undercutting the performance of the highflying benchmark and several exchange-traded funds that track it.

The S&P Completion Index tracks all U.S. stocks except those in the S&P 500. The index is typically associated with mid, small and microcap stocks that fail to meet certain criteria for inclusion in the S&P 500. The presence of Tesla, the biggest stock in the completion index and the sixth-largest publicly traded company in the U.S., was something of an anomaly.

Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.

CORONAVIRUS OUTLOOK

Stimulus Deal Likely to Spur Faster Economic Growth Later Next Year: The coronavirus-relief bill passed by Congress on Monday will likely spur a stronger economic recovery in the second half of 2021, though it may be arriving too late to stave off a further slowdown this winter, analysts say.

PLANNING & INVESTING

Investors Turn to Far-Flung Bonds for Juicy Returns: Appetite for emerging markets has returned with gusto, enabling Uzbekistan to issue local currency bonds to international investors for the first time.

MARKET TALK

From Dow Jones Newswires

The immediate world economic outlook is, to a great extent, dependent on how quickly vaccines can be produced and administered, but the pandemic has accelerated Asia’s rise to global economic leadership, Christian Nolting, Deutsche Bank’s global chief investment officer, says. “These long-term relative shifts in regional economic power are nothing new…but short-term relative changes also have an impact. A faster Asian economic recovery will have an immediate impact on the health of emerging-market corporates, where earnings per share estimates are already close to pre-crisis levels, unlike their developed market peers,” he says. In contrast, many developed markets start 2021 with quite a lot to prove, Nolting says. (xavier.fontdegloria@wsj.com)

The impact of coronavirus on individuals has varied enormously by geography and income group, Christian Nolting, Deutsche Bank’s global chief investment officer, says. “The crisis has increased the role of the state but has also revealed its shortcomings, in the form of long-term increases in inequality, translating during the pandemic into more brutal social divergence in public health-care access, infection rates and disease outcomes,” he says. In 2021, there might be discussion around social issues such as universal basic income and higher taxation on wealthier individuals seems likely — partly to help finance the substantial increase in government budget deficits as a result of the pandemic, Nolting says. (xavier.fontdegloria@wsj.com)

BUSINESS & PRACTICE

Tech Founders Gain More Power as Investors Clamor for New Listings: Once-rare dual-share structures have become the norm in a sizzling tech IPO market.

IMPACT INVESTING

Tech Talent Diversity Took on New Urgency in 2020: Chief information officers in 2020 helped introduce or bolster initiatives to increase the ranks of minorities and women on their technology teams, as well as programs designed to retain and advance those underrepresented groups.

TALKING POINTS

How to Work From Home Effectively: Remote work has been on the rise across the U.S. for years, but the coronavirus pandemic significantly accelerated the shift to remote work.

TRAVEL & LIFESTYLE

Cheating in Online School? Some Students and Parents Say It’s OK: Teachers are changing how they test to counter online cheating; ethicists fear a slippery slope.

ABOUT US

The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisers. The content is curated by the Dow Jones Newswires team using articles from the Newswires, Barron’s, MarketWatch and The Wall Street Journal. The briefing is delivered to subscribers by email each workday morning at 6:30 a.m. ET. You can sign up here for email delivery.

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