Dear clients,

I’m Richard Turnill and earlier this year began serving as Global Chief Investment Strategist for BlackRock. As part of this role, I am also taking responsibility for our weekly commentary, which we hope will continue to provide you with insights you can use to build better portfolios in today’s markets.

I have been focused on markets for my two decades at the firm, both as a portfolio manager and investment strategist. In delivering the new weekly commentary you see before you I am joined by a deep and talented team of global investment strategists from the BlackRock Investment Institute. The thoughts you will see here reflect ongoing deliberation among our most senior investment professionals and collectively are our best views of where we think markets and asset classes are headed.

The format is new. We took advantage of this transition to conceive an approach that we hope will be digestible and actionable. Quick summary points at the top will be followed, in order, by a chart focused on a key theme or development that we think will shape markets in the days ahead; a recap of the prior week; and a snapshot and quick analysis of events coming up in the current week.

We hope you will like what we have done.