Lydon talked about enthusiasm for U.S. equities – the Trump-induced stock market rally.

However, he noted growing caution on Trump’s ability to enact these pro-growth policies in a timely fashion.

Examples include the replacement for the Affordable Care Act, Obamacare, which is stumbling in a Republican-controlled Congress.

Any setbacks may indicate Trump’s future ability to pass other initiatives, like tax cuts.

Click here to watch the video on CNBC.