Crude (Oil) Realities; Italian Lockdown; Hedge Fund Manager Kyle Bass

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 9 March 2020

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

A split between Russia and Saudi Arabia has triggered oil’s biggest price plunge since the Gulf War, sparking fears of an all-out price war. ProShares Advisors’ Simeon Hyman and Strategas’ Jason Trennert discuss the oil production battle and the broader market sell-off. Dr. Luciano Borio, former Director of Medical and Biodefense Preparedness as the White House National Security Council joins former FDA Commissioner Dr. Scott Gottlieb to discuss coronavirus testing and the outbreak’s global impact. NBC’s Claudio Lavanga is on the ground in Rome with details on the Italian response to the virus. Hayman Capital Management founder and CIO Kyle Bass weighs in on oil prices, coronavirus concerns, and the market sell-off. The man who predicted the subprime mortgage crisis leading up to the Great Recession thinks the virus peak in financial markets is still a month away.

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod, the daily podcast brought to you by the team behind Squawk Box.
0:08.0	NYC, this is NBC Control 2.
0:10.0	See, NBC's essential morning show.
0:12.0	PCR2. Every day get the best stories, debate, and analysis. see Global Market turmoil and maybe an oil price war due to continuing concerns on the coronavirus.
0:26.4	It matters how much fear it's created in the marketplace.
0:30.0	Investor Jason Trener.
0:31.6	You have to treat it a little bit like a bank run.
0:34.0	How to contain the spread, former head of the FDA, Dr Scott Gottlie.
0:38.0	Large quarantines and lockdowns like what they did in Italy and China won't work here.
0:42.0	We're well past that point
0:43.5	because we now have this seated in multiple US cities. And what's next for oil
0:48.1	after its steepest plunge since the Gulf War? hedge fund manager Kyle Bass.
0:53.1	The one cure for $25 oil is $25 oil.
0:56.4	So it won't stay here for long
0:59.0	because none of the producers make any money at these levels.
1:02.0	Those stories and more.
1:03.4	I don't know if I'm hoarding yet.
1:04.6	I bought a dog.
1:05.6	I bought a lot of dogs.
1:06.7	I'm C. NBC producer Katie Kramer.
1:08.4	It's Monday, March 9th, 2020.
	...

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