After a strong performance in January, the sovereign credit market began the current month on a relatively quiet note. The Markit iTraxx SovX Western Europe index closed at 323 basis points on Thursday, unchanged from the previous Friday’s closing level. There was a lack of new concrete to go on, which might seem strange given that there was a major E.U. summit on Monday and Tuesday. But, although the E.U.’s leaders agreed on a new fiscal compact and the ....