FOR INSTITUTIONAL, PROFESSIONAL, WHOLESALE, QUALIFIED INVESTORS AND QUALIFIED CLIENTS ONLY. FOR PUBLIC DISTRIBUTION IN THE U.S. Source: BlackRock Investment Institute, with data from Thomson Reuters. Notes: The financial assets shown are those we have identified as being historically sensitive to swings in the selected BGRI. Our gauge of sensitivity is the correlation between returns on these assets and weekly moves of 0.2 standard deviations or more in the BGRI from 2003 to May 2018.