European equity reached a peak for the year at the very start of the month before declining across the rest of November. The slump in the Eurostoxx 50 index coincided with a strengthening of the Euro during the month. Outside of Europe, the global equity markets made positive gains in November. Corporate and government bond values changed marginally in November. Realised volatility on the major equity indices increased marginally in November as stocks fluctuated more than the previous month. Implied volatilities increased at the start of November when the stocks made most of their losses, but fell away later in the month. The volatility risk premiums mirrored most of the changes in implied volatilities.