I think the Doubleline website does a good job of explaining how it works, but I wonder how many people did proper research on it.

D&C have good funds but many of them are riskier and it shows at market stress such as 2008 and many times when stocks go down and 2020 is no different
For YTD
Allocation DODBX -23.4...PRWCX -16.2...JABAX -13.1
Mostly US LC: DODGX -32.1....SPY -22.4
Foreign stocks: DODFX -34.5...AFCNX -21.9
BTW, all the funds above have better long term(1-3-5-10-15 years) risk/reward than D&C funds too.

“I think you need more transparency where bonds are trading real time, [to aggregate] where the prices are at and find a best bid, best offer [so that] there’s a lot of increased confidence where bonds are trading, just like you have in equities,”

Last February, there were $6T in bond funds (about $4.5T in OEFs) and I understand in March, like $250B in redemptions.

..... the lack of volatility providing (for some funds) false sense of security; therefore, more shocking the surprise when a crisis happens, which makes bond investors not used to drawdown, head for the door.

..... I see some bond funds like icebergs now.

OUCHX squared. Expected this one to hold better.

The staggering economic fallout from the COVID-19 pandemic is expected to create a budget deficit in San Francisco of from $1.1 billion to $1.7 billion over the next two fiscal years, city officials said Tuesday.
The grim projections accompanied an announcement that San Francisco’s budget-setting process would be delayed for two months to buy the city’s financial experts time to readjust their spending plans in light of stark revenue losses.
In December, the projected budget shortfall over the next two fiscal years was pegged at around $420 million. That gap between the city’s spending plans and available revenue has roughly quadrupled. Last year’s budget, the largest in the city’s history, was $12.3 billion.
“The coronavirus pandemic is an immediate threat to our public health, and we’re doing everything we can to slow its spread and save lives, but we know that it is also having a major impact on our economy and our city’s revenue,” Breed said in a statement.
The city has already sustained substantial losses brought on by the threat of the coronavirus and its attendant impact on the economy. The estimated losses reflect evaporated revenue the city otherwise would have expected to receive.
Over the next three months, city officials expect a shortfall of from $167 million to $288 million, driven primarily by losses in hotel and real estate-transfer taxes. The 2020-21 fiscal year is shaping up to be worse, according to the projections, with $330 million to $581 million in revenue drained away. Losses in the 2021-22 fiscal year are estimated at between $214 million and $382 million.

While two days is not a trend, does this give you any sense that muni money market funds are stabilizing? It seems the answer is it depends on the daily net shareholder cash flows.

at least twenty-nine MMFs had losses large enough to cause them to break the buck in September and October 2008 despite significant government intervention and support of the sector. Five funds or more experienced losses exceeding the 3 percent reported by Reserve, and one fund reported a loss of nearly 10 percent. Among the twenty-nine funds that would have broken the buck without sponsor support, the average loss was 2.2 percent."

Global fund managers are convinced the world economy is already in recession, and recommended increasing bond holdings in March to the highest level in at least seven years while buffering up on cash at the expense of equities, a Reuters poll showed.
“The recent fall in equities reflects the wrongdoings over the past decade such as share buy-backs at a time when investment growth was warranted."
“The monumental scale of stimulus announced by central banks can only bring bond yields lower."
Asset managers reduced recommendations to equity exposure to the lowest since September, to 45.9% of the model global portfolio from 49.1%. Cash holdings were increased to the highest since October, to 5.2% from 3.8%. Asked on the outlook for equities over the next three months, nearly 90% of respondents said stocks would fall further or stay around current levels.
U.S. funds suggested a cut to equity exposure to the lowest in Reuters poll records for that country going back to early 2011 and an increase to bond holdings to the highest since then.