diff --git a/src/applications/policy/query/PhabricatorPolicyQuery.php b/src/applications/policy/query/PhabricatorPolicyQuery.php
index 20d14b4dc4..beb2837576 100644
--- a/src/applications/policy/query/PhabricatorPolicyQuery.php
+++ b/src/applications/policy/query/PhabricatorPolicyQuery.php
@@ -118,6 +118,16 @@ final class PhabricatorPolicyQuery extends PhabricatorQuery {
     return $results;
   }
 
+  public static function isGlobalPolicy($policy) {
+    $globalPolicies = self::getGlobalPolicies();
+
+    if (isset($globalPolicies[$policy])) {
+      return true;
+    }
+
+    return false;
+  }
+
   private static function getGlobalPolicies() {
     static $constants = array(
       PhabricatorPolicies::POLICY_PUBLIC,
diff --git a/src/applications/transactions/storage/PhabricatorApplicationTransaction.php b/src/applications/transactions/storage/PhabricatorApplicationTransaction.php
index ddd678dd18..0f24de5dae 100644
--- a/src/applications/transactions/storage/PhabricatorApplicationTransaction.php
+++ b/src/applications/transactions/storage/PhabricatorApplicationTransaction.php
@@ -123,6 +123,15 @@ abstract class PhabricatorApplicationTransaction
         $phids[] = ipull($old, 'dst');
         $phids[] = ipull($new, 'dst');
         break;
+      case PhabricatorTransactions::TYPE_EDIT_POLICY:
+      case PhabricatorTransactions::TYPE_VIEW_POLICY:
+        if (!PhabricatorPolicyQuery::isGlobalPolicy($old)) {
+          $phids[] = array($old);
+        }
+        if (!PhabricatorPolicyQuery::isGlobalPolicy($new)) {
+          $phids[] = array($new);
+        }
+        break;
     }
 
     return array_mergev($phids);
@@ -242,16 +251,20 @@ abstract class PhabricatorApplicationTransaction
           '%s changed the visibility of this %s from "%s" to "%s".',
           $this->renderHandleLink($author_phid),
           $this->getApplicationObjectTypeName(),
-          $old,
-          $new);
+          PhabricatorPolicyQuery::isGlobalPolicy($old) ?
+            $old : $this->renderHandleLink($old),
+          PhabricatorPolicyQuery::isGlobalPolicy($new) ?
+            $new : $this->renderHandleLink($new));
       case PhabricatorTransactions::TYPE_EDIT_POLICY:
         // TODO: Render human-readable.
         return pht(
           '%s changed the edit policy of this %s from "%s" to "%s".',
           $this->renderHandleLink($author_phid),
           $this->getApplicationObjectTypeName(),
-          $old,
-          $new);
+          PhabricatorPolicyQuery::isGlobalPolicy($old) ?
+            $old : $this->renderHandleLink($old),
+          PhabricatorPolicyQuery::isGlobalPolicy($new) ?
+            $new : $this->renderHandleLink($new));
       case PhabricatorTransactions::TYPE_SUBSCRIBERS:
         $add = array_diff($new, $old);
         $rem = array_diff($old, $new);