4 Reasons The 'Trump Rally' Is Just Getting Started

Mark Lehmann is the president of JMP Securities and was a guest on CNBC's "Squawk Box" on Monday to explain why he believes the "Trump rally" is just getting started.

According to Lehmann, the recent surge in stocks following the U.S. election is "in its first innings" and will likely continue heading into 2017 after President-elect Donald Trump is sworn in.

Lehmann believes there are four main factors to support his bullish stance:

• 1) There are still a lot of investors sitting on the sidelines.
• 2) Mutual funds continue to benefit from an inflow of capital.
• 3) Investors are still under-exposed to equities in their portfolios and are over-exposed to bonds.
• 4) 2017 is likely to be a more friendly year for the IPO market.

"New Path"

Doug Cote, Voya Investment Management's chief market strategist, jumped in and offered his similar bullish take.

According to Cote, the stock market has just entered a "new path" which he describes as the "growth and reflation trade."

"We are already seeing an acceleration in corporate profits, broadening manufacturing, the consumer continues to do well, developed economies around the world are doing well " he expanded. "Add to this a pro growth economic policy and you have the reflation grade."