In situ ellipsometry and Kerr polarimetry have been used to follow the cont
inuous evolution of the optical and magneto-optical properties of multiple
layers of Co and Pd during their growth. Films were sputter deposited onto
a Pd buffer layer on glass substrates up to a maximum of N = 10 bi-layer pe
riods according to the scheme glass/Pd(10)Ar x (0.3Co/3Pd) (nm). Magnetic h
ysteresis measurements taken during the deposition consistently showed stro
ng perpendicular anisotropy at all stages of film growth following the depo
sition of a single monolayer of Co. Magneto-optic signals associated with t
he normal-incidence polar Kerr effect indicated strong polarization of Pd a
toms at both Co-Pd and Pd-Co interfaces and that the magnitude of the compl
ex magneto-optic Voigt parameter and the magnetic moment of the Pd decrease
exponentially with distance from the interface with a decay constant of 1.
1 nm(-1). Theoretical simulations have provided an understanding of the obs
ervations and allow the determination of the ultrathin-film values of the e
lements of the skew-symmetric permittivity tensor that describe the optical
and magneto-optical properties for both CO and Pd. Detailed structure in t
he observed Kerr ellipticity shows distinct Pd-thickness-dependent oscillat
ions with a spatial period of about 1.6 nm that are believed to be associat
ed with quantum well levels in the growing Pd layer.