Reasons we are up according to Goldman Sachs:

1, liquidity stress has eased, lower cross asset volatility, especially rates vol

2, more constructive shape of the recovery, less left tails, long dated skew is down, div futures we have been outlining over past weeks have all rebounded big

3, sentiment has improved from extremely depressed levels, systematic strategies and a lot of the short gamma etc is gone, despite the improved positioning we are not at extreme levels when it comes to positioning

4, decline of new number of Covid -19