2022 Midyear Market Outlook

Opportunity in an Unpredictable Environment

While we entered 2022 anticipating a year of “normalization,” geopolitical unrest, high inflation, and rising interest rates have created continued headwinds for markets. How do these ongoing challenges impact your investments? Our 2022 Midyear Market Outlook examines four key themes currently shaping markets and provides insights into potential opportunities in an unpredictable environment. 

Put our insights into action.

Questions? Call us at 1-800-332-6161.

Transitioning to a New Paradigm

To help optimize your investment approach, discover the future we see for financial markets and how we’re investing to prepare for it.

JUNE 29, 2022

Hear directly from our senior investment leaders as they share a market forecast and actionable insights for the remainder of 2022.

JUNE 29, 2022

Adjusting to an uncertain future.

Four Investment Themes

Key themes to follow as you navigate the second half of 2022.

Explore Our Insights

Our investment and financial professionals give you firsthand insights and guidance on markets, investing, and personal finance.

T. Rowe Price Mutual Funds to Consider

Choose from our 4- and 5-star Select Funds encompassing a broad range of asset classes.

Dividend Growth Fund - I Class (PDGIX)

5-star Overall Morningstar RatingTM out of 1,221 dividend growth funds as of 10/31/2022.*

Global Multi-Sector Bond Fund - I Class (PGMSX)

4-star Overall Morningstar ratingTM out of 112 global multi-sector bond funds as of 10/31/2022.*

Find more highly rated performers.

Over 60 of our funds have earned a 4- or 5-star Overall Morningstar Rating™ as of 10/31/2022.*

Morningstar RatingsTM are based on risk-adjusted returns. Click on “Overall Morningstar Rating” for the fund’s 3-, 5-, and 10-year (if applicable) Morningstar RatingsTM.

All funds are subject to market risk, including possible loss of principal.

Download a Prospectus

Past performance cannot guarantee future results.

*Morningstar gives its best ratings of 5 or 4 stars to the top 32.5% of all funds (of the 32.5%, 10% get 5 stars and 22.5% get 4 stars) based on their risk-adjusted returns. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) Morningstar RatingTM metrics. As of 10/31/2022, 63 of 152 of our Investor Class funds received an overall rating of 5 or 4 stars.

The Morningstar RatingTM for funds, or “star rating,” is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar risk-adjusted return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

Source for Morningstar data: ©2022 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.