Kyle Bass: We're In 6th Inning Of Emerging Market Selloff, 'Still Have Three Tough Innings To Go'

In new yet-to-be released commentary on Wall Street Week, Kyle Bass of Hayman Capital sheds light on his view into the deteriorating emerging market situation. Bass said he thinks emerging markets are "probably in the mid-fifth inning...maybe entering the sixth" of their current selloff.

"But we still have three tough innings to go, maybe four," he warned, adding that emerging markets will "see a lot more pain before things are okay."

Bass had a lot to say about the B.R.I.C. countries.

Brazil

"You look at Brazil, and the [carwash] scandal goes all the way to the President...It is a complete disaster with corruption," he said. Bass believes that until the country roots out its corruption, the country "will keep going south."

Russia

Russia faces issues related to "Putin's global chess moves" and international sanctions.

India

Bass, meanwhile, called India a "semi-bright spot" in the grouping of countries, but didn't delve deeper.

China

China, lastly, is "the big one," according to the hedge fund manager. Bass cited the country's non-performing loan growth as the key issue to watch.