Bets against Greek bonds hit highest level since 2014

Hedge funds have been upping their bets against Greece’s government debt as the nation heads to the polls this weekend, as they become concerned about the possibility of political paralysis after the election.

The total value of Greece’s bonds borrowed by investors to wager on a fall in prices — known as shorting — hit its highest level since 2014 this week at over $500mn, according to data from S&P Global Market Intelligence — up from around $65mn at the start of the year.