Are we experiencing a bear market rally?

Suddenly, the stock markets either side of the pond have perked up. There might be some of those green shoots of recovery but are we experiencing a bear market rally? The UK property market seems a bit perkier in terms of anecdotal evidence and of the Nationwide Building Society positive numbers for the month of
March.
The Bank of England governor Mervyn King seems to be in a bit of a quandary about quantitative easing and after using it to buy a few gilts. The governor has acknowledged that inflation is too high. In his column in the Sunday Telegraph, pundit Liam Halligan notes the Bank of England's own pension scheme is 70 pct invested in index-linked instruments compared with the previous 25 pct.
The British government still has to rescue the car industry, which means giving money to foreign manufacturers. This compares with the rise in car sales in Germany helped by the country's scrappage incentives. The British government has been traditionally anti the motorist and seemssto want cars to be sold from the forecourt so they could sit on the drive.