What New Greek Deal? Some Hedge Funds Are Betting

Yes folks, a handful of plucky hedge funds are nibbling again at cut-price Greek government bonds, increasingly optimistic that progress in talks between Athens and international lenders will deliver a better principle payout for bondholders, Reuters reports.

Such funds think the bonds, which attracted few buyers after a second bailout in March inflicted heavy losses on private investors, may now be a bargain as hopes grow politicians can keep Greece on track to meet conditions for its cash lifeline.

Speculation that Athens may also get more debt relief, this time at the expense of public lenders and central banks, is also encouraging the interest from hardy, and discreet, buyers….

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