European markets are marginally higher this morning following a jittery session in Asia overnight as Wuhan reports new coronavirus cases. The Chinese city, thought to be the original epicentre of the epidemic, had seemingly been getting back to normality with lockdown measures lifted. However, reports of five new cases yesterday have sparked fears of a second wave of infection. Similarly Germany, one of the first countries in Europe to ease lockdown restrictions, has seen the reproduction rate R rate of the virus rise back over 1 to 1.1. An R rate over 1 means the virus is spreading and this was referred to as a key metric by Boris Johnson in his update to the UK on Sunday evening. That infection rates are rebounding so soon after the transition from lockdown could be very worrying, and casts doubts on the effectiveness of strategies governments have in place.