. >> another new slurry to replace turkey we have a lot more to come by the way, kyle bass, will joinrspective on the ongoing situation. let's give you one more look at futures. we open for trading ten nus mite from now don't miss it. more "squawk on the street." let's talk. we have a pretty good relationship. you've done a lot of good for the world. but i feel like you have the potential to do so much more. can we build ai without bias? how do we bake security into everything we do? we need tech that helps people understand each other. that understands my business. we've got some work to do. and we need your help. we need your support. let's expect more from technology. let's put smart to work. ♪ ♪ doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. >>> close to closing out last week's sell-off declines still down for the month and futures eroding in the lt lfasha hour opening bell in about seven and a half minutes >>> you're watching cnbc's "squawk on th

we will talk to kyle bass of haman capital. from new york, this is bloomberg. ♪ david: continuing to cover the tense situation at the hong kong airport. joining us on the telephone is kyle bass, the chief investment officer at hayman capital. you've been a follower of china for some time. what you make from what is going on in hong kong? kyle: in hong kong what you're seeing is the students and the millennials are deciding this is the existential threat to the , china'sheir lives infringement on hong kong's economy, which was promised to hong kong in the 1984 agreement between the chinese and the british, and the 1992 agreement between the u.s. and hong kong, where china is supposed to leave hong kong to its own devices and be autonomous and its economy, its legislature, its judiciary, and this extradition bill that china try to sneak through the hong kong legislature this february has erupted into this current protest movement that thestudents now realize -- protesters now realize they are fighting for their freedom and their

. >> yesterday on cnbc we had andrew kyle bass, a vocal china critic he said he thought if china's currencyas allowed to float no pegs or mid points, it would drop 30% to 40%. where do you think it would end up if it floated freely? >> you would have, if they let all of the controls go, you would have a shock quite a large scale depreciation 30%, 40% has been talked about, but people talk about 10%, 15% would be where you would normalize it so keeping it steady, keeping it at this level is bizarrely manipulating it the other way rather than what they're being accused of >> miranda carr, pleasure have you on interesting point of view, the manipulation may be on the other side thank you very much for joining us >>> on deck, oil and oil stocks hit badly again. is this just the trade war or something larger we'll dig into an industry facing a triple threat. >>> plus president trump keeping jay powell's feet to the fire over fed action. some very familiar fames coming to the fed's defense an op-ed taking aim at trump that you have to hear next ahh... your teeth hurt? sensitivity. gotta do someth

my first guest this week, the capital management founder, kyle bass. great to have you this weekend. want to talk about the week it was. another bank lower interest ra rate, second time in iraq. second month in a row for indonesia. thirty-five central banks across the world lowering interest rates. what's your take on where we are in terms of the inverted yield curve? >> unlike prior to inversions, i hate saying this time is different but if you look at what is driving our inversion in my mind, look at the big central banks around the world. lowering rates and potentially buying stocks and also restarting in the next few weeks. you've got the bank on tilt, they are now 70% of all the listed ets in japan. ten of the largest companies in japan. they continue to purchase so japanese rates are negative, european rates are negative. there are 15, 16 negative yielding. we are still positive. i think the world liability managers are buying the long end of our curve and the money is flowing into dollars as you see the dollar breaking out to new highs. it's bec

meanwhile, kyle bass has a paper out saying that capital is going to flee.moving your money into u.s. dollars. kyle bass is definitely one of the big contenders here, saying the peg is going to break. but again, we've seen this in history before. david: and at one point says it is before the anniversary come october 1, you will see them go and. sonali: what do you think? david: i have no idea. [laughter] alix: i've been hearing, too, that the u.s. pushed to early. they should have waited a bit because now there's more time, and the u.s. says we won't negotiate with you if you do something in hong kong. sonali: i would also read the story out today by nishant. he also have a lot of compelling as a dense about why in the short term -- you also have a lot of compelling evidence in the short term about why this does not look likely. ipo, andoton's they say getting profitable will not be likely. another ipo that doesn't make money. a big winner that could $10n this ipo is the billion valuation at chase coleman. if it hits $8 billion, it is well above the $4 billi

. >> thank you very much earlier on squawk on the street, kyle bass told david faber why he would not be surprised if interest rates go to zero. >> our rates are going to go to zero whether trump gets it all in one move or not >> you think so? >> yeah, because we're the only country who has an integer in front of our bond yields wlee have a rule of law and a decent economy all the money is going to come here all the money in the world is coming here. >> let's get more on where bond yields could go from here from michael collins, he also is morning star's fixed income manager of the year in 2017. mr. bass, who is certainly a respected voice, says he expects interest rates to go to zero in my notes, it says you think the fed will cut two more times this year, but the fed's got eight more quarter-point cuts in it, and it could take that fund's rate to zero in the next one to one and a half years. you expect it? >> in the next recession, absolutely i mean, the fed is the only game in town, right they'll have to basically bear the weight of the world on their shoulders and other than maybe

kyle bass will join me on friday.ext and apple hits the reset button. what can we expect as the technology giant readys for a revamp. back in a minute. ♪ (vo) the hamsters, run hopelessly in their cage. content on their endless quest, to nowhere. but perhaps this year, a more exhilarating endeavor awaits. defy the laws of human nature,at the summer of audi sales event. get exceptional offers now. >> donald from floating the idea of tax cuts but the best stimulus could be a trade deal. stuart varney is here. stuart: things are slowing down in america and worldwide. what is the best way to tackle that? how do we speed things up? what is the best stimulus? tax cuts would be great but you won't get them in the near term, certainly not through the house of representatives, they never met a tax they didn't like. you could lower interest rates dramatically. that might help and that is what we will probably do. it will not help that much. all we are doing is catching up with europeans and the japanese. my opinion is the best

that is pretty much the wrap i thought kyle bass had a good wrap he wasn't a defeatist. we had many defeatists and fifth columnists on today who made me feel like, wow, i guess we lost the trade war. how many people said trump came to the gunfight with a knife i don't think they have a clue what that guy is going to do i think they're probably -- we make them seem more invincible if they're walking around, like we got hong kong falling apart, this crazy man in the white house, behind him elizabeth warren, she's for trying to make it so we do no business and socialist, i don't think they can figure it out. on air, we have got it all figured out. sell everything. i want the other side of the trade. >> i think that's a good point what we saw today, they can fight back too i'm not saying they have the leverage but both -- >> they buy all their soy from brazil that's a statement whatever we don't -- whatever we don't sell, we write checks to one thing we're unbelievably good at is writing checks to farmers. that started with fdr. he had a great check writing program. the prim

talking to kyle bass with investi investing today. stay with fox news. "the five" begins now. >> ♪ dc >> hello. i am dana perino with katie, juan williams, jesse watters and greg gutfeld. it's 5 o'clock in new york city and this is "the five." >> ♪ >> ♪ >> the president sparring with reporters for 30 minutes this afternoon. criticizing democrats over israel, depending his immigration policies and clashing with the media over bias. >> they are so bad for israel! they are so bad for jewish people. the horrible anti-semitic statements they made. if you vote for a democrat you are very disloyal to israel and the jewish people. we are building a wall right now coming together like a beautiful puzzle. president obama had separation. i brought them together. i am the chosen one. someone had to do it so i am taking on china. the fake news of which many of you are members is trying to convince the public to have a recession. the "new york times" has lost cred ability. they are trying the racist deal. if i am not here the "new york times" goes out of business. nbc

lieberman as the president continues his feud with members of the squad over israeli and talking to kyle bassting today. stay with fox news. "the five" begins now. >> ♪ dc >> hello. i am dana perino with katie, juan williams, jesse watters and greg gutfeld. it's 5 o'clock in new york city and this is "the five." >> ♪ >> ♪ >> the president sparring with reporters for 30 minutes this afternoon. criticizing democrats over israel, depending his immigration policies and clashing with the media over bias. >> they are so bad for israel! they are so bad for jewish people. the horrible anti-semitic statements they made. if you vote for a democrat you

yesterday kyle bass, well known investor, short seller, very bearish on china, said he cannot believe people are complaining their nikes produced in china will cost more this christmas. we should care more about national security. this isn't about people complaining about their nikes costing more. they're complaining because the president's economic adviser peter navarro argued this week this is not going to affect the american consumer and the president has been arguing that all along. >> intellectual honesty would be to say this will affect -- >> correct. >> if you want to get away from unfair, low labor practices, sneakers and soybeans, everything is going to cost more. suggesting it never hurts consumers which is what the president has done is intellectually dishonest. >> if i'm a business leader or world leader and i look at the president continuously misrepresenting how trade and tariffs work, i've got to wonder. this guy doesn't understand basic economics? >> thank you. john harwood cnbc editor at large and eli stokols "l.a. times" white house reporter. the epoch times. you eve

additional china tariffs to december 15th joining us is the founder and chief executive officer kyle bass at hayman capital investment we can focus on the trade war and rights risks of a trade war, but when you look at the protests that are continuing to accelerate and close down the hong kong airport, the response from the ceo of hong kong and mainland china right now, is that the biggest risk, the biggest threats to china and to the markets as well? >> yeah. i mean, as far -- as far as the markets are concerned, you know, i -- i'm not sure, but as far as the risk to china, you know, clearly xi is taking china -- the hong kong protests as an existential risk to, you know, the communist party rule in china, and i think that, you know, one of the dates that i think everyone should start focusing on is october 1st you know, that's the day in which it will be the 70th anniversary of the communist party. my guess is you're going to see xi move in and brutalize these protesters at some point in time the protesters are actually very, very smart they are very well-organized and very technologica

. >> echoes of what kyle bass said yesterday, yes. >> 90% of the yield is here.at's what he thinks. which a bit out of consensus, the rates could come down to as low as zero here because of the overall demand >> pimco getting defensive on bonds. get any kind of mild trade deal, you get a huge snapback. >> i think that could be true. then we would be signaling worldwide growth, but those yields, they got to come up a lot. they don't happen overnight, i don't think. when you look -- the president has a point when the shortest rates are better you really don't want to do any investing, you want to keep it short here if you're from germany, look, this is when they should be doing 50 year treasury we should be doing 50 year treasuries the president could be so constructive he is just not constructive. you can't take -- jay powell is -- i'm going to use the word that my mother would say, is a distinguished person he's a member of the -- he's a community, a kind man, he's a good man, that's from apocalypse now. i don't know what to say i'm flabbergasted. have you ever s

. >> right some of that goes to the thinking of my friend kyle bass, who joined us many times and has been short the currency there and in hong kong on this idea of capital flight, current account deficit, widening dramatically. >> he thinks the hong kong dollar is going to lose control. that's pegged it to the u.s. dollar as the u.s. dollar is stronger and hong kong is weaker, it will take a lot of ammunition to fight. he thinks they will lose control. the massive protests and strikes happening in hong kong, flights canceled overnight . >> jim /* jim thinks it's possible with a currency deval iegs. >> it helps ease the pain. it keeps their exports competitive when doing trade with other countries it also is the ultimate trump card because it's very hard for trump to do anything about it and it totally destabilizes global markets the fed cannot -- it is very hard for the fed to offset this with rate cuts it's very hard, even the treasury through the fed to step into the currency market to fight it intervention doesn't necessarily work so all of these kind of worries are in play, and i