What Is Sotheby’s? Sotheby’s is one of the world’s largest auction houses and brokers of art, collectibles, jewelry, and real estate. Founded in England and headquartered in New York City, Sotheby’s is organized into three separate business units: finance, auctions, and dealing. It also offers a number of related services, such as private sales and corporate
What Is Sour Crude? Sour crude is a type of crude oil known for its relatively high sulfur content. The presence of sulfur makes oil more difficult and costly to refine, causing sour crude to be viewed as a less desirable form of crude oil. By contrast, sweet crude oil is known for its low
What Is the South African Reserve Bank? The South African Reserve Bank (SARB) is the central reserve bank of the Republic of South Africa. Its functions include the formulating and implementing of South Africa’s monetary policy, ensuring the efficiency of South Africa’s financial system, and educating South Africa’s citizens about the monetary and economic situation
What Is a Sovereign Wealth Fund (SWF)? A sovereign wealth fund is a state-owned investment fund comprised of money generated by the government, often derived from a country’s surplus reserves. SWFs provide a benefit for a country’s economy and its citizens. The funding for a SWF can come from a variety of sources. Popular sources are
What Is a Sovereign Bond? A sovereign bond is a debt security issued by a national government to raise money for financing government programs, paying down old debt, paying interest on current debt, and any other government spending needs. Sovereign bonds can be denominated in a foreign currency or the government’s domestic currency. Sovereign bonds
What Is a Sovereign Credit Rating? A sovereign credit rating is an independent assessment of the creditworthiness of a country or sovereign entity. Sovereign credit ratings can give investors insights into the level of risk associated with investing in the debt of a particular country, including any political risk. At the request of the country
What is Sovereign Debt? Sovereign debt is issued by a country’s government to borrow money. Sovereign debt is also known as government debt, public debt, and national debt. Governments borrow for a variety of reasons, from financing public investments to boosting employment. The level of sovereign debt and its interest rates will also reflect the
What Is Sovereign Default? Sovereign default is the failure of a national government to repay its debt. Governments are typically hesitant to default, since doing so is likely to bar the country from accessing debt markets again for years, and to make borrowing more expensive, at least for a time, when it once again becomes
What Is the Sovereign Fund of Brazil? The term Sovereign Fund of Brazil refers to a sovereign wealth fund that was created by Brazil in 2008. The fund was developed to provide support to the country. Its objectives included funding projects of strategic interest to the nation and to help Brazilian firms expand their reach
What Is the PHLX Semiconductor Sector Index (SOX)? The PHLX Semiconductor Sector Index (SOX) is a capitalization-weighted index composed of 30 semiconductor companies. The companies in the index have primary business operations that involve the design, distribution, manufacture, and sale of semiconductors. The index is designed to track the performance of listed semiconductors. Key Takeaways
