Juan Sampieri conducts fixed-income and multi-asset-class applied research. He previously worked in MSCI's client-service team for analytics. Juan also served in market risk management at HSBC Mexico. He earned a doctorate in financial sciences at EGADE Business School at the Monterrey Institute of Technology.
Research and Insights
Articles by Juan Sampieri
The Lowdown on High Real Yields2 mins read Quick Take | Oct 16, 2023 |
Real yields in many countries have surged to their highest levels in a decade. But while high real yields might offer potential opportunities for investors, it is important to recognize the risks.
Markets in Focus: Narrow Yield Spread and High Crowding Pressure Equities6 mins read Blog | Oct 3, 2023 |
Eclipsing equity and bond yields and high crowding may be signs of a vulnerable equity market. We compare equity/bond yield spreads in the major regional markets along with crowding in sectors and regions.
Net-Zero Glidepaths for Fixed-Income PortfoliosResearch Report | Sep 12, 2023 |
A bond portfolio generates cash flows over time that include coupon payments and the face value of matured bonds, assuming no defaults. With controlled and systematic reinvestment of this cash flow, investors can gradually decarbonize their portfolios on a glidepath.
Are Bonds and Equities Finding Harmony Once Again?2 mins read Quick Take | Aug 17, 2023 |
The relationship between U.S. bonds and equities has seen a number of shifts in recent years, but with inflation pressures easing, could bonds regain their reputation as portfolio diversifiers?
Markets in Focus: Looking Beyond the Rate Hikes7 mins read Blog | Jul 4, 2023 |
Investors face “sticky” inflation, equity-market concentration and expectations that U.S. interest rates may be higher for longer. We examine recent global-markets trends to help as asset allocators and portfolio managers determine their next move.
Banking on the Brink of Crisis? Three Scenarios for Investors2 mins read Quick Take | Apr 4, 2023 |
The broad equity market remained relatively resilient in the wake of recent bank failures, but how might it spill over in the coming months? We present three scenarios for potential risks and opportunities from the recent banking-industry upheaval.
Decarbonizing Bond Portfolios: Risk Trade-Offs5 mins read Blog | Oct 21, 2022 |
Bond investors looking to reduce their portfolios’ carbon footprint may decide to shift capital from high to low emitters. Did a decarbonizing approach that preserves sector exposures significantly change the main portfolio risk characteristics?
Has Inflation Affected the Bond-Equity Relationship?2 mins read Quick Take | Jun 21, 2022 |
The sharp rise in inflation over the past year and a half, combined with growing concern over the U.S. economy’s strength, may prompt investors to rethink basic assumptions underlying portfolios comprised of bonds, equities and other asset classes.
Bond-Index Replication While Navigating Volatility4 mins read Blog | Mar 23, 2022 |
Market volatility poses major challenges to investors trying to track bond indexes while also keeping transaction costs low. Can managers of funds tracking bond indexes balance transaction costs and tracking error?
Why Is Climate-Transition Risk High in High Yield?6 mins read Blog | May 6, 2021 |
Investors increasingly focus on building greener portfolios. Some might expect bonds to be less exposed to climate-transition risk compared to equities, due to the seniority of bonds in the capital structure. But does that logic hold at the portfolio level?
Climate Transition and Bonds: Risk or Opportunity?5 mins read Blog | Feb 23, 2021 |
The transition to a low-carbon economy could significantly redirect the flow of investments toward greener companies and technologies that limit carbon emissions. We consider the potential risk — and opportunity — for bond investors.
Chinese Government Bonds: Higher Yield, Less Risk?6 mins read Blog | Nov 12, 2020 |
Global investors’ interest in Chinese government bonds has risen, as these bonds offer higher yields than developed-market sovereign debt. For investors thinking about adding Chinese bonds to their portfolios, what could be the impact on portfolio risk?
Hedging Inflation: A Scorecard5 mins read Blog | Aug 26, 2020 |
Aggressive actions by central banks and soaring government budget deficits have raised concerns among some investors that inflation may significantly rise. We examine whether an inflation hedge was worth the cost over the past 13 years.
Did Bonds Deliver? Leveraging Fixed Income During the COVID CrisisBlog | Jul 29, 2020 |
Investors may employ leverage with lower-risk asset classes such as bonds to seek higher risk and returns. We assessed the effects of leverage on the returns of three hypothetical multi-asset-class portfolios during the COVID-19 crisis.
Four COVID-19 Scenarios: What Might Happen Next?Blog | May 21, 2020 |
Our latest COVID-19 stress test looks at four potential financial-market outcomes ranging from a swift V-shaped recovery to a pessimistic L-shaped scenario, in which outbreaks recur and lockdowns return well into 2021.
How could coronavirus impact credit markets?Blog | Mar 25, 2020 |
While newspaper headlines are focused on volatile stock markets stemming from the COVID-19 pandemic, credit markets are not immune. Our latest stress test asks, “What would it mean for portfolios if losses reached 2008 levels?”
A coronavirus stress test for global marketsBlog | Mar 4, 2020 |
After the coronavirus spread to multiple continents, markets recorded the worst week since the crisis. How much further could markets drop if epidemic turns into pandemic? Our stress test indicates room for further losses.
Something for nothing? Increasing bond duration may not increase portfolio riskBlog | Nov 20, 2019 |
Asset allocators may consider lengthening the duration of their bond portfolios to prepare for a potential recession in the U.S. But could duration extension push risk above target thresholds? Maybe not.