Investors considering dumping their stock portfolio should think otherwise as U.S. equities are poised for big returns this year, even with a summer rate hike on the table, often bullish strategist Tom Lee said Tuesday.
"We've got inflation picking up; which is good, we've got commodities bottoming. The dollar isn't gaining anymore. High yield probably is the most important thing to focus on; it's telling us that the stock market should have double-digit gains this year," the founder of Fundstrat Global Advisors told CNBC's "Squawk Box."
The high-yield bond market is up more than 8 percent year to date after a dismal 2015, while the benchmark S&P 500 was up 2.7 percent entering Tuesday's session.
Since 1985, the stock market has posted double-digit returns 14 of 15 times when high-yield bonds have posted returns of more than 10 percent, Lee said.