Kyle Bass Exits Yuan Short Bet Just as Trade War Really Heats Up
- Bass entered short position against offshore yuan in 2015
- Fund still has positions in Southeast Asian currencies
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Longtime China-bear Kyle Bass has closed his nearly four-year wager against the offshore yuan just as the trade war between the U.S. and China is intensifying.
Bass’s Hayman Capital Management entered its short bet on the yuan in July 2015. The firm had the position on as recently as March, when Bass argued that China would eventually deplete its $3.1 trillion foreign-exchange reserves trying to support its currency as tensions with the U.S. escalate.