The article looks at how the bond markets of six Eurozone countries were affected during the global financial crisis and the Eurozone debt crisis. They found that stock market returns, U.S. Treasury note yields, and the Euro-U.S. dollar exchange rate influenced the likelihood of big changes in bond yields. Positive stock market returns and U.S. Treasury yield increases made it more likely for bond yields to go up, while a higher Euro-U.S. dollar exchange rate made it less likely. The study also showed that during the Eurozone debt crisis, there were more extreme changes in bond yields across Eurozone countries compared to before the crisis.