Greek Sign of the Times

From Friday's close, the newly issued PSI Greek debt was already trading at 25% of face value, this tells you what bond traders think about Greece's ability to make good on the payments on these new bonds, even after they slashed the former bonds by 50+% (meaning the new bonds given to Greek debt holders not only lost 50% right off the bat, but the new bonds are trading at 25% of face value, talk about taking a major hit-another 75% loss). After Yesterday's election, these bonds just took another nearly 14% dip to trade at 21.63, this tells you what bond traders think about a positive outcome in Greece in which they are able to service their debt.