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There might be one advantage to climate change. More home runs at Dodger Stadium

Not much good comes to mind when you think about the effects of climate change.

Wildfires, floods, melting ice caps, heat waves, the bleaching of ocean reefs.

But then there’s baseball, and one possible silver lining.

Has global warming turned Dodger Stadium into a home run launching pad?

I was watching Monday night’s ESPN telecast of the L.A. game against Tampa Bay when the play-by-play announcer said that once upon a time, it was an article of faith that fly balls didn’t carry far in the heavy night air of Chavez Ravine.

However, the announcer continued, a Dodger executive had told him that over the last several years, “in general, the marine layer is gone, and the ball has started to carry at night, and you can see it now in the numbers. It is a great home run hitters park.”

This is statistically true. Between 2020 and 2025, Dodger Stadium had more home runs than any other major league park, although this year’s total is lagging behind last year’s pace. In all of Major League Baseball, home run totals have fluctuated but gradually increased over the years, with this year’s pace running slightly ahead of last year’s.

That can’t all be attributed to climate change, as retired Dodger great Steve Garvey is going to explain in a minute. When considered city by city and decade by decade, there are lots of factors in home run totals, from ballpark dimensions to playing strategies to the number of long ball hitters in each lineup.

But with Dodger Stadium, the marine layer angle jumped out at me because I’m always on the lookout for relatable ways to tell the climate change story. In the past, I’d written about the gradual demise of Joshua trees, the effect of receding fog and higher heat on the California wine industry, the growing nuisance of backyard bug bites and the gradual migration of juvenile great white sharks up the coast.

And now we have to ask ourselves: Is global warming producing more home runs than steroids did?

The warm-up is real, but it isn’t new. In Game 2 of the 2017 World Series, the temperature at Dodger Stadium topped 100 when the first pitch was thrown, and the ballpark was like a popcorn machine. The Dodgers and Astros combined for a record eight home runs, and The Times’ story quoted a NASA climate scientist who noted that the marine layer was a no-show.

While watching Monday night’s game, I emailed Dodger fan Edgar McGregor, the meteorologist who warned neighbors about the catastrophic weather conditions that resulted in the Eaton fire. I asked what he thought about this theory of a link between a diminished marine layer and the number of home runs.

“There is absolute truth to that,” said McGregor, explaining that “when oceanic temperatures are warmer, the marine layer is weaker.”

McGregor broke down the aerodynamics: “Cold air is dense, so a baseball has to push more atoms out of the way as it travels deep. Warm air has lower density, so balls travel farther.”

UC climate scientist Daniel Swain said this pattern will accelerate “for the rest of our lives as air continues to warm and baseballs continue to meet less and less resistance.”

This doesn’t mean that an infield pop-up will become a home run, but Swain said balls travel four inches farther per 1 degree Fahrenheit increase, “meaning that the average hit goes about 1-2 feet further than it would have in the early 20th century.”

That doesn’t sound like a staggering difference, but with thousands of batted balls over the years, that’s a lot of outs turning into doubles, triples and home runs. Swain sent me a 2023 study from the American Meteorological Society journal titled “Global warming, home runs, and the future of America’s pastime.”

Researchers reviewed data between 2010 and 2019, finding that “higher temperatures substantially increase home runs,” with about 50 per year “attributable to historical warming.” That adds up to about 500 more home runs.

The scientists concluded: “Each degree of global warming is associated with an additional 95 home runs per baseball season.”

Home runs bring fans to their feet, as in Monday night’s game, when Kyle Tucker pumped one that made it just over the right field wall and Miguel Rojas popped the game-winner with a shot that barely cleared the left field fence. So I don’t want to sound like a party pooper, but there is no bigger story in the world than the accelerating destruction of the only sandlot we’ve got.

If the right team hits a homer, feel free to go ahead and cheer. But if the wrong team hits one, you can remind friends and loved ones that each homer is like a fossil fuel bugle call signaling the end of the world as we know it.

Thankfully, the marine layer has not yet disappeared entirely. We still got some May gray this year and some June gloom as well. I wondered, though, if there were any retired Dodgers out there who might be thinking they’d have walloped more home runs if they’d had the advantage of warmer air.

“I do remember some balls just not traveling far, especially compared to day games,” said James Loney, who played first base for the Dodgers from 2006 to 2012 and had 106 career homers with three teams.

Today’s Dodgers hit a lot of home runs primarily because the lineup is stacked, Loney said. But he said he recalled players from visiting teams hammering a long ball and passing him at first base, thinking “they had a home run, and then making a right turn back to the dugout.”

Garvey, also a first baseman, slugged 272 home runs in his 18-year career and told me that if he were playing in this era, “I probably would have hit another 40 or 50 home runs.”

But Garvey, who started with the Dodgers in 1969, said weather is just one of many factors that have led to more home runs in today’s game, which has abandoned finesse in favor of brute force.

Garvey said the bats are harder, the balls are livelier, the pitchers throw harder (more velocity means more pop for batters) and launch angles are talked about more in baseball than at Cape Canaveral.

“We never heard the term ‘launch angle,’” said Garvey, who told me he went up to the plate trying to hit a line drive, not a moon shot.

“My goal used to be a .300 average, 200 hits, 100 RBIs and 20-plus home runs,” said Garvey, who hit 20 or more homers six times, with a high of 33 in 1977.

Today’s Dodgers have plenty of swat in their lineup, ranking behind only the Yankees in home runs so far as they chase a third straight World Series ring. They’re in first place even though one of their biggest bombers, Shohei Ohtani, is about a dozen homers shy of last year’s pace.

But Swain has good news for Ohtani, for Dodger fans and for manufacturers of short-sleeved shirts.

“This year, there is going to be exceptionally high humidity for most of baseball season in SoCal due to the developing very strong El Niño event and record warm coastal ocean temperatures,” he said.

“So, it’s indeed plausible,” Swain continued, “that the combination of long-term warming from climate change, plus shorter-term warming and humidity increase from El Niño and near-shore ocean warming, might increase the number of home runs this season.”

One can only hope the home team does the most celebrating.

Go Dodgers.

steve.lopez@latimes.com

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Baloch separatists ‘take advantage’ of Pakistan’s entanglements | Quetta Attack

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The Balochistan Liberation Army claimed responsibility for a train bombing that killed at least 30 people in Pakistan. Kamran Bokhari of the Middle East Policy Council argues that the separatist BLA is timing its attacks to exploit Pakistan’s other entanglements.

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Does Ukraine have the advantage at the moment? | Russia-Ukraine war News

Kyiv takes the war deeper into Russia with a huge attack on the Moscow region.

There appears to be a shift in the years-long conflict in Ukraine.

Last weekend, Ukrainian forces struck deeper into Russian territory, piercing its air defences in a large strike on the Moscow region.

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This came a week after fears of a Ukrainian attack forced Russia to scale down its annual Victory Day parade.

Kyiv’s also been relentlessly striking Russia’s oil facilities and military logistics, as it tries to disrupt supplies to the front lines.

All this as Russian missiles and drones continue to target sites across Ukraine.

So, where does the war stand in its fifth year? Does any one side have the upper hand?

Presenter: James Bays

Guests:

Peter Zalmayev – Director of the Eurasia Democracy Initiative

Pavel Felgenhauer – Russian foreign policy analyst

Mark Episkopos – Research fellow at the Quincy Institute’s Eurasia Program

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Suntera’s Von Bevern on the ‘Speed’ Advantage of Private Credit

Home Private Credit Suntera’s Von Bevern on the ‘Speed’ Advantage of Private Credit

Michael Von Bevern of Suntera breaks down how private credit lenders are faster and act more like business partners than banks in a tightening global market.

As traditional banks continue to retreat from risk, private credit is stepping in to provide the speed and execution that entrepreneurs desire. Global Finance spoke with Michael Von Bevern, Global Head of Funds at Suntera Global, about why this “unregulated” sector has become a permanent fixture in the funding landscape.

Global Finance: What are the benefits of being a private credit borrower?

Michael Von Bevern: The big benefit is speed. It can be relatively simplistic, depending on what type of borrowing you’re going for. In a direct-lending situation, like a senior term loan, it is usually simple because your risk profile is clear. For anything less senior, such as mezzanine or subordinated debt, the advantage is that it provides capital without diluting ownership. That’s important for entrepreneurs. They just need cash flow to grow and don’t necessarily want to give up equity. And they don’t want to be taken to the cleaners for raising equity. In those cases, mezzanine or subordinated debt can be a really effective solution.

In our business, we see a lot of NAV (Net Asset Value) lending, where a fund’s assets serve as collateral. This helps borrowers boost returns and navigate tricky markets, especially when raising equity is difficult. I also see a lot of action in specialty finance, or the asset-based lending space. The borrower is unlocking liquidity at usually more favorable rates than going to banks.

GF: Are banks really that cumbersome?

Von Bevern: Well, they don’t take risks. That’s not what they do. They bet on sure things, whereas in our industry, we fill the gap for high-growth companies seeking custom, quick solutions. We have a lender at Suntera — Carlyle Group. They’re extremely helpful. It’s like having a business partner.

GF: You wouldn’t get extra assistance with, say, JPMorgan Chase or Morgan Stanley?

Von Bevern: We bank with JPMorgan here in the U.S. Don’t get me wrong — I love JPMorgan. But, they’re not the risk-takers. If you need speed, if you need execution quickly, banks aren’t known for that. Specialty lenders — whether focused on a particular sector or type of credit — can move much faster than a bank. That speed can make the difference in whether a deal gets done. There’s a lot of competition out there, especially with the IPO market drying up. Finding ways to create liquidity and still grow your company is critical. At the end of the day, banks are regulated. These lenders aren’t, so they just view credit differently than your average fund lender.

GF: Is the unregulated party going to end soon?

Von Bevern: I don’t think so.

GF: Why not?

Von Bevern: I’ve been doing this for 20 years, and people have been talking about regulating private credit the whole time. I just don’t see it happening. If you did regulate it, you’d basically be regulating private equity and venture capital, too. What makes it work is that there are highly skilled, disciplined people in this industry who can lend responsibly while helping companies achieve their goals — whether it’s M&A, expansion, or growth. I can’t see regulation coming in and dampening that.

GF: How do you pay back a private credit lender like Ares, Blackstone, KKR, or Carlyle?

Von Bevern: I can’t speak to the Carlyle loan specifically, but in general, we see lots of different loan agreements as a fund admin and loan agent. The key thing is flexibility—these agreements are designed for repayment, but they give you options: payment-in-kind (PIK) interest option, rollovers, and adjustable-to-fixed contracts. They’re structured to support your growth while giving you room to navigate the business.

GF: So, with Suntera and Carlyle, is there someone on the ground at Suntera who can offer expertise or perspective, given how sector-specific it is?

Von Bevern: I can’t speak to Suntera and Carlyle, but large private credit lenders work across multiple industries and verticals. That means when you’re in a specific sector and need liquidity, they bring a wealth of experience from similar companies. They can act almost like a business partner — advising on how you use the proceeds, what your expected returns might be, and even on covenants in loan agreements.

Over the years, I’ve seen lenders in areas like recycling, renewables, and reusability not only provide capital but also offer extensive guidance about the business itself. It’s similar to what private equity would provide — but without the dilution.

GF: Wouldn’t these companies get money from a traditional bank if they could? And are these companies already a credit risk?

Von Bevern: There’s some risk in every loan. The less risky borrowers are usually the ones banks handle. Banks set strict guardrails and count on repayment. Private credit, on the other hand, often funds the next level down or borrowers that need speed of execution that banks can’t offer. The risk depends on the loan structure — whether it’s collateralized or uncollateralized, senior or mezzanine — and is managed through interest rates, covenants, and other terms.

Looking ahead, we’re approaching a refinancing cycle that will make the embedded risk in today’s market clearer — probably by the end of 2027. Even so, defaults remain rare, and most borrowers are likely to refinance without issue. Of course, there will always be cases, like Blue Owl, that attract attention, but those don’t indicate a broad crisis.

GF: U.S. small business insolvency filings jumped 67% year over year. Many point to inflation, geopolitical instability, and tightening credit as key factors.

Von Bevern: A few years ago, when interest rates were historically low, it was easier to match lenders with portfolio companies in a way that worked for both sides. Today, with interest rates much higher, we’re entering a cyclical period that naturally creates stress for these businesses. Your stat isn’t surprising, but structurally, the market remains sound. It’s also hard to know how many of these insolvencies were directly due to loans or credit constraints.

GF: The European Central Bank’s fourth-quarter data shows euro-area banks are tightening credit standards. Are you seeing private credit growth globally as a result?

Von Bevern: The expansion of private credit is definitely a global trend. We operate in the U.K., the Channel Islands, the U.S., Singapore, Hong Kong, the Bahamas, and other markets, and the trends are similar across regions — interest rates have risen everywhere. Even with higher rates, defaults haven’t spiked as some might have expected. Lending today is often collateralized, not just unsecured, and large funds, like BlackRock’s $20 billion credit fund, are expanding the pool of borrowers, which naturally introduces a wider spectrum of risk — but that’s manageable. Competition among private lenders has increased significantly, thanks to abundant dry powder and a mature, experienced market. Looking ahead, the refinancing cycle over the next year or two will be interesting to watch, but I don’t see it as a systemic problem.

GF: Should ETFs, retirement accounts, and pension funds incorporate private credit companies?

Von Bevern: They already are. Private credit exchange-traded funds (ETFs) are definitely among the fastest-growing segments of the business. And they can be either directly with the lender or the stock of a company that does a lot of private credit lending. So it’s a sort of direct and indirect way to get into the ETF part of it.

GF: So you’re clearly bullish about private credit. Is there anything you’re bearish about?

Von Bevern: Going into 2026, I expected it to be a strong fundraising year. There’s a lot of dry powder, and many managers still have to fully invest the funds they raised in prior years before starting new ones. Overall, that made me bullish.

What concerns me is emerging managers. With so much dry powder flowing to established names, it’s harder for new managers to raise funds. It’s going to the sort of household names. Intense selectivity and abundant opportunities are making it harder for emerging managers in our space to gain attention. It’s not that they can’t be successful; there just won’t be that many of them. I’ve worked with hundreds of emerging managers over my career, and many struggle to get off the ground even with strong pedigrees.

Emerging managers often provide more specialized attention to portfolio companies, which can translate into better returns. If this segment struggles, it could constrain that part of the alternatives market. But hopefully this too will pass.

Editor’s note: This interview has been edited for length and clarity.

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