How monetary policy is transmitted through bond markets is a central question in macroeconomics and finance. The impact of monetary policy actions on the yield curve shapes domestic financial conditions, borrowing costs and savings returns, and thereby the effects on real activity. In the case of the United States, the centrality of its financial markets in the global financial system means that assessing the effects of US monetary policy on global bond markets is also key to gauging its overall impact. Authors examine the impact of US monetary policy on US and international bond yields focusing on longer time horizons. […]