1. A processing apparatus comprising: processing circuitry configured to perform processing operations in response to program instructions; a condition status storage location configured to store at least one condition flag indicating a condition of said processing circuitry; and trace circuitry configured to generate trace data elements indicative of said processing operations performed by said processing circuitry in response to said program instructions; wherein: said processing circuitry is responsive to at least one conditional instruction to perform a conditional operation in dependence on a current value of a subset of said at least one condition flag; and said trace circuitry is configured, in response to said processing circuitry processing at least one selected instruction, to generate a trace data element including a traced condition value indicative of at least said subset of said at least one condition flag, said traced condition value providing information for determining a processing outcome of said at least one conditional instruction.