Poser over end of Fed’s QE

New fund: Sharp-Paul and Lim at the launch of the United Global Income Focus Fund by UOB Asset Management and WellingtonManagement Singapore Pte Ltd.

THE era of cheap credit appears to be coming to an end.

The US Federal Reserve (Fed) is beginning to reduce its balance sheet after more than nine years of accumulating treasury bonds. Following the aftermath of the global financial crisis, the Fed first announced its bond-buying programme on Nov 8 to reduce borrowing costs for businesses and consumers to stimulate its economy.