SAAB fills for bankruptcy

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Source: Bloomberg

SAAB automobile, the Swedish car producer submitted filing for bankruptcy after it failed to find investors ready to save company running for 74 years. Saab's staff totals around 3,600 employees. In September SAAB got a protection from lenders and has been searching investors since then. In 1990 SAAB was acquired by General Motors which sold the company to Swedish Automobile in 2010.

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Mon, 19 Dec 2011 12:06:37 GMT

Spanish notes climb while French drop

Spanish 2-year bonds surged for the seventh consecutive day amid speculation banks purchased debt to exploit it as a collateral. French sovereign notes declined first time in 5 days after Fitch has cut nation's outlook. Yield on Spanish 2-year bills lost 12 b.p. to 3.34%, while their French counterparts jumped 9 b.p. to 1.0%. France's 10-year borrowing costs added 13 b.p. reaching 3.19%.

Mon, 19 Dec 2011 12:01:27 GMT

Correlation between S&P 500 and gold

During the period 18-23 December both S&P 500 index and gold moved in relatively close harmony at average correlation of 0.72. Nevertheless, on weekly basis relationship was downward sloping and on Friday correlation coefficient reached 0.68. Possible explanation for downward trend could be fluctuations in S&P 500 index amid constantly decreasing price of gold until last workday. On Friday, both

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