In an article that describes the dire situation of Greece’s finances only a year after the country’s triumphant return to the international markets following a four-year exile, Bloomberg notes that the east Mediterranean country is once again flirting with default.

Last year signs of economic recovery under a government backing austerity drew investors like Invesco Asset Management Ltd. and BlackRock Inc. to Greek bonds, says the article, noting however, that today, “bonds are trapped in no-man’s land, too risky for most mutual funds and not cheap enough for other investors.”

The conflict between Greece’s new leadership and the country’s creditors has triggered fears over the possibility of a “Grexit,” say the columnists, underlining that “the vacuum has yet to be filled by hedge funds and those buying illiquid assets because returns aren’t near enough to distressed levels even as yields have tripled from a year ago.”

Bloomberg also notes that since anti-austerity SYRIZA came to power in January, yields on Greece’s 10-year government bonds have risen by about 350 basis points, or 3.5%.