Charlie Dreifus In The WSJ: "The Economy Is Improving"
article 11-12-2015

Charlie Dreifus In The WSJ: "The Economy Is Improving"

On November 6, 2015, The Wall Street Journal ran an article by Corrie Driebusch, “Stock Investors Position for Rate Increase After Strong Jobs Report.

The piece touched on a number of current topics, focusing mostly on the likelihood of a December rate hike based on the strong October jobs report, saying that more robust hiring “is likely to reassure Federal Reserve officials as they weigh raising short-term interest rates.”

The article went on to discuss recent market behavior before returning to note, “Low interest rates have been viewed as a key reason stocks have continued to climb since the financial crisis. At the same time, investors say a healthier economy should help lift corporate profits and provide support for stocks even if interest rates do go up.”

Ms. Driebusch’s piece then used recent Fed funds futures data to show a steady and marked increase over the last month in the probability of a December increase.

Royce Portfolio Manager Charlie Dreifus was quoted next: “ ‘If you’re investing rather than trading, this is good news… What it says is the economy is improving. More people working, making more money, cannot in any way be viewed as anything negative.” The consumer discretionary area is an obvious beneficiary, he said, as the economy gets better.”

Charlie Dreifus has 47 years of investment industry experience and joined Royce in 1998. He is portfolio manager of Royce Special Equity Fund and Royce Special Equity Multi-Cap Fund.

Read the full article at WSJ.com

Important Disclosure Information

The thoughts and opinions expressed in this piece are solely those of the person speaking and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.

This material is not authorized for distribution unless preceded or accompanied by a current prospectus. Please read the prospectus carefully before investing or sending money.

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