Robertson Stephens Weekly Commentary – April 21, 2025

Timing is everything, so the saying goes. Economists would paraphrase this by saying, “Time frame is everything;” play around with the time frame enough, and one can perhaps prove just about anything in co-conspiracy with the ability of statistics to do the same. Last week was another round of “headline roulette” where Trump claimed a trade deal with the EU was imminent (though he provided no details or timeline); Trump was more specific about a U.S.-Ukraine minerals accord, saying a deal would be signed in a week; Trump addressed Powell on social media, saying his removal couldn’t come soon enough and again demanding immediate rate cuts. On the wealth planning front, we discuss seeking stability with annuities.