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Commentary
Funds
Dec 2022

DoubleLine Fund Commentary

Despite a year-end rally, both stocks and bonds experienced one of their worst annual drawdowns on record as a combination of tighter monetary policy, high inflation and slowing economic growth weighed on financial assets in 2022. (Figures 1 and 2) Broad investment trends that worked in investors’ favor in recent years were reversed in 2022, as U.S. equities underperformed most other developed markets; value stocks outperformed growth stocks; and government bond yields rose, contributing to a broad sell-off across fixed income.