In mathematical physics, a spacetime manifold is globally hyperbolic if it satisfies a condition related to its causal structure. This is relevant to Einstein's theory of general relativity, and potentially to other metric gravitational theories.
To be precise, a spacetime manifold M without boundary is said to be globally hyperbolic if the following two conditions hold[1]
A spacetime manifold with non-empty boundary is said to be globally hyperbolic if its interior, as a manifold in its own right, is globally hyperbolic.
Global hyperbolicity is completely equivalent to the existence of Cauchy surface. In fact, this implies that a globally hyperbolic spacetime M is foliated by a family of Cauchy surfaces, i.e. the interior of M is topologically isomorphic (diffeomorphic) to the product of the interior of some Cauchy surface Σ and some interval I; the metric structure need not respect this decomposition, however. If the spatial boundary of M is non-empty and the metric non-singular there, it will be the boundary of all Cauchy surfaces of the family above. This essentially looks like a ring used to make soap bubbles with a lot of soap layers.
Summarized, a globally hyperbolic spacetime is a spacetime on which everything is determined by the equations of motion for one hypersurface, together with initial data specified on it. (At least if only fields are present which have a well-defined initial value formulation.) This is also the origin for the name of this property.