Since the lows of March there seems to be renewed optimism around, judging by the rising indexes. Where has all this positivity come from given the fact that the fundamental causes for the recent market decline have not been resolved (debt, debt, debt), only it seems plastered over by central banks pumping cash into the system?

Is this just a hiatus prior to a bigger storm post the US elections perhaps or are the recent declines the whole story in the bear market and it's a general up-trend from here?