Kyle Bass Warns on Hong Kong’s Currency Peg Reserves

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Kyle Bass Warns on Hong Kong’s Currency Peg Reserves Bloomberg Kyle Bass, chief investment officer at Hayman Capital Management, discusses his argument that Hong Kong’s Monetary Authority has insufficient.

May.21 — Kyle Bass, chief investment officer at Hayman Capital Management, discusses his argument that Hong Kong’s Monetary Authority has insufficient reserves to protect its currency.

"By repeatedly tightening capital controls, China risks eroding confidence in its currency, said [Benjamin] Fuchs, chief investment officer at BFAM Partners (Hong Kong). At the same. like Hayman.

The Quiet Panic in Hong Kong . All, For the better part of the last 36 years, since Hong Kong pegged its currency to the USD and ceded monetary policy to the Fed, Hong Kong has been a financial and political oasis for investment into mainland China and Southeast Asia. Today, newly emergent economic and political risks threaten Hong

 · Kyle Bass is short the HKD looking for the central bank in HK, the Hong Kong Monetary Authority (usually described ad the de facto central bank) Bass says (in a nutshell): By Eamonn.

What Bass calls excess reserves is better known in Hong Kong as the aggregate balance. This can go to zero and stay there for years without the peg breaking. It is, in fact, how the currency board mechanism works. Hong Kong fixed the value of its currency at 7.8 to the dollar in 1983 and has kept the system, with some minor adjustments, ever since.

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high-profile US fund manager Kyle Bass, for unknown reasons, issued a scary report on the possible impact on Hong Kong financial markets, saying that Hong Kong’s foreign exchange reserves are.

 · Kyle Bass warns China’s foreign cash reserves below a critical level’. Bass, whose Hayman Capital Management LP has a multibillion-dollar bet that the yuan and Hong Kong dollar will fall, told clients in a letter that his firm estimates that China’s liquid foreign reserves are $2.2 trillion at most. That compares with the $3.23 trillion reported by the People’s Bank of China, the central.

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And, as generations of foreign exchange traders have learned to their cost, and while US hedge fund manager and Hong Kong dollar bear Kyle Bass would certainly disagree. markets believe the Federal.