Squawk Box Europe Express

Benchmark U.S. yields are touching 16-year highs ahead of this year’s Jackson Hole symposium. Meanwhile Japan’s 10-year JGB yield is at its highest level since early 2014. In tech news, Nvidia shares pare back slightly from record levels with option traders considering double-digit news should the chipmaker falter with earnings results. U.S. retail giant Macy’s posts a Q2 net loss warning that shoppers will become more discerning and price-driven in H2. In Spain, the King greenlights the conservative opposition to form a new government following last month’s inconclusive election. Chinese President Xi Jinping assures BRICS counterparts over his country’s recent economic effort and pledges to reinforce ties within the bloc.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.