D28 made headline news last week. No, we’re not referring to a new Stars War character. And it’s not a winning move in German Bingo. D28 is an iceberg.
In what glaciologists said was not a global warming-related event, D28 “calved” off from the Amery Ice Shelf in East Antarctica, making quite a splash. Depending on your source, Big Berg’s mass equaled Los Angeles, Oahu, or 27 Manhattans. The island, not the cocktail.
Ice shelves shed major chunks every 70 years or so. Otherwise, said one expert, they “just grow and grow – like not cutting your hair.” We’ll take their word for it.
Meanwhile, in the warmer climes of leveraged loans, market observers contemplated other mega moves. One is recent economic data. Both manufacturing and services indices dipped sharply last week. The former fell to levels not seen since the Great Recession, while the latter dropped to its worst showing since August 2016.