Many DR1 financial & social news stories refer to "sovereign bonds". How are sovereign bonds different from normal bonds, issued in past years by the Dominican national government? In the USA, bonds issued by a state or the national government usually have the "full faith & credit" of the state or federal government. This phrase is from the American Constitution. It indicates that the governmental unit is completely financially responsible for paying all principal & interest to all bond holders. Are "sovereign bonds" different? How? I've never encountered this phrase in the USA nor in periodicals dealing with USA nor international bond markets. Thank you.