The European equity markets began November positively, but the twin challenges of a new virus strain and soaring core inflation pushed the S&P Europe 350® firmly into the red.
Nearly every country and nearly every sector contributed to the declines; Switzerland and Communication Services, respectively, were the exceptions.
European fixed income indices rose across the board, pulled up by strong performances in sovereign bonds as investors sought safe harbour. Inflation-linked bonds in the U.K. performed particularly well.
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