Jupiter Merlin team: What Mike Tyson can teach us about markets

Jupiter's Peter Lawery has said the next five years promise to be uncomfortable for investors as they try to dodge 'punches' in the form of central bank policy moves.

The co-manager of the £4.7bn Jupiter Merlin Income portfolio likened the uncertainty of tapering in the US to a famous Mike Tyson quote: "Everyone has a plan until they get punched in the face." "The most recent punches are coming from central bankers, especially the Federal Reserve," Lawery said. "The ‘will they, won't they?' debate is dominating everything at the moment, which is a somewhat ridiculous situation to be in. "Risk asset markets are taking fright because [the Fed] might reduce stimulus, but QE is supposed to be an unconventional policy - is taking it away not a sign t...