According to Odaily, JPMorgan's newly appointed Chief Market Strategist, Dubravko Lakos-Bujas, has issued his first report, indicating that the recent downturn in US stocks has alleviated some market bubbles. However, he warns that if economic growth continues to decelerate and the Federal Reserve does not show urgency in easing monetary policy, positions and valuations remain at risk.
Lakos-Bujas communicated to clients that stocks are no longer a one-way upward trade. Instead, the market is increasingly characterized by a debate over downside growth risks, the timing of Federal Reserve rate cuts, crowded positions, high valuations, the upcoming election, and escalating geopolitical uncertainties.
