Odaily News Dubravko Lakos-Bujas, JPMorgan Chase's new head of market strategy, wrote in his first report that the recent rout in U.S. stocks has dissipated some bubbles in the market, but if economic growth continues to slow and the Federal Reserve "does not show urgency" in easing monetary policy, then positions and valuations are still at risk. Lakos-Bujas told clients that "stocks are no longer a one-way upside trade, but more of a two-way debate about downside risks to growth, the timing of the Fed's rate cuts, crowded positions, high valuations, and increased election and geopolitical uncertainty." (Cailian News Agency)