Kyle Bass blew another one it looks like. He and a bunch of other dumb-as-fuck hedge fund managers were thinking that their "big trade" was shorting the Chinese yuan.
Bass was looking for a new, "debt crisis" after the Japanese one he had been talking about never panned out. Actually, the Japanese government doesn't even have to pay investors interest anymore for holding its paper. Instead, investors are the ones paying. (Negative rates.) And in case you didn't notice the yen is surging.
So these morons led by Bass have been shorting the yuan, but today the yuan had the biggest rally since 2005.
Hey, this is what you get for not understanding sovereign money.
Oh well. Guess they have to look for a new crisis to blow money on.
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