European Stocks Dip as German Economy Stagnates, Bank of Japan Jolts Markets

European stocks dipped as the German economy stagnated in the second quarter, failing to show any growth, while Spain's economy grew in line with expectations. The Bank of Japan announced a policy shift, allowing greater flexibility in its target range for 10-year Japanese government bond yields, which rattled Asia-Pacific markets. Yields for 10-year Japanese government bonds reached their highest levels in almost nine years. Meanwhile, Goldman Sachs named Chinese stocks to buy after fiscal stimulus measures were announced, and Morgan Stanley revealed a cautious stance on the global office spaces sector.