The Greek 1 year bond yield has surged to a record 821% today, a new all-time high.
Looks like all those who voted last week that the Greek 1-year was likely to break the 1,000% threshold on 2/28 or 2/29 still have pretty decent odds of placing in the money!
As several readers have requested an explanation of bond price vs. yield, when the yield or rate of bonds goes up, their price or value goes down. Meaning that holders of Greek bonds are losing value or worth to their bonds as the interest rate continues to skyrocket. Fairly simple explanation.