Within decades there are pauses associated with solar minima that seem to fool people who don’t average them out. This happened in the 80′s, 90′s and 00′s, but only the last one has received attention.
It is well known that the frequency of El nino decreases from solar maxima and the extremal or point wise T excursions at minima.That these point wise excursions tend to “move the market” it is difficult to remove the signal and residual memory.