“You just have a lot of sand in the gears that’s slowing or reducing the recovery momentum,” he added, pointing to vaccine requirements at restaurants and other measures. “We believe a lot of that’s reflected in the recent pricing,” he said of the decline in yields.Delta’s impact — which is far greater outside the United States — is also weighing on the global growth outlook. Resurgent rates of infection in Japan, South Korea, Indonesia and Vietnam have prompted new restrictions, possibly setting back the recovery of the global supply chains. “Setbacks in Asia could spill over to the …
