^The following is useless for stock picking.
It may be food for thought though for the following academic question: WTF is going on in today's markets?
https://www.factorresearch.com/research-improving-the-odds-of-value-iiTL;DR: Minding the usual limitations about how to measure 'value', the author suggests that, usually, typical contrarian value seekers of the bottom seas will tend to struggle when interest rates are flattening. Article published before the very unusual 2020 year.
In theory, with the yield curve steepening, the typical 'value' investor should be recomforted but: 1-the 30-yr rate is only at 1.87%*, 2-the 10yr-2-yr the author uses is at only 0.99% now and 3-real rates have had a tendency to be more and more negative (a perplexing situation for which, AFAIK, nobody has a reasonable explanation).
https://www.quandl.com/data/USTREASURY/REALYIELD-Treasury-Real-Yield-Curve-Rates*It's interesting to note that, in the various interest rate threads of the past (before 2019), simply mentioning the possibility of the 30-yr rate below 2% would have sounded as weird as saying now that this specific yield may go negative in the (foreseeable) future.