CPTOH Insights

The S&P 500 peaked in late January at just over 7,000 while gold touched $5,595 per ounce. The Iran war-induced volatility caused a nearly 10% drawdown on the S&P 500 from its peak, closing -4.3% as of quarter end. On February 28th, the U.S. military launched Operation Epic Fury in coordination with Israel with the goals of preventing Iran from developing nuclear weapons and regime change. The conflict sparked a sharp oil price shock. Crude oil prices skyrocketed from $65 a barrel to $118 in a matter of days. Prices have retraced to the mid $80s per barrel on Iran’s …

Read more

Fortis will serve as the cornerstone of a new, dedicated Emigrant business unit delivering specialized non-investment family office services to ultra-high-net-worth families and RIAs  MIAMI, FL — March 4, 2026 — Emigrant Bancorp, Inc. (“Emigrant”), the parent company of Emigrant Bank, announced today that it has entered into an agreement to acquire a majority interest in Fortis Management Group LLC, based outside of Boston, MA. Fortis is a leading provider of comprehensive family office services to ultra-high-net-worth individuals and families.  The acquisition coincides with the launch of Emigrant Family Office, a newly formed business unit affiliated with Emigrant Bank. The …

Read more

The year ended on a high note as stocks closed near all-time highs, while 10-year bonds rallied about 60 basis points from 4.80% to end at 4.17%. The imposition of massive global tariffs upended financial markets in April 2025, causing deleterious and cascading effects on the economies of U.S. trading partners. The tariff disruption also caused demonstrable political repercussions with major trading partners such as Canada, China, and the European Union.  The actual economic damage to date is far less than Wall Street feared in terms of inflation and economic slowdown. In fact, inflation has continued to moderate with CPI …

Read more