A Resemblance to the 1966-1982 Sideways Market

1966-1982 was a period of high inflation and weak economic growth: in short, stagflation. More recently, during the four years since rates bottomed and subsequently rose from the lows in the summer of 2020, the market has delivered a stealth value recovery in major markets outside of the U.S. (the U.S. market is distorted by the Magnificent 7 stocks). This seems reminiscent of the early stages of the 1966-1982 period.