Greek assets sold off on Monday as country didn’t manage to elect president and heads to early elections on 25th of January. Heavy pressures were present on the banking sector, with EUROB, NBG, TPEIR and ALPHA recording new 52 week lows, but managed to resume their losses by the end of the session. 

GGBs were also in free fall; The 3yr yield was up 140bps at 11.83%, the 5yr one at 10% and the 10yr at 9.57%. +107bps. 

The transaction activity was high, taking into consideration post Christmas period. 

On the news side, the IMF says Greece΄s stalled bailout review will resume only after the new government is in place, following national elections called for Jan25. IMF spokesman Gerry Rice said Greece faces no immediate financing needs.