WASHINGTON – Europe, a thundercloud over financial markets for three years, might burst this month into a downpour. For investors who want to stay dry, some shelters look sturdier than others.

Junk bonds, companies that make consumer products and even some European stocks could add a healthy shot of profit to well-designed portfolios, analysts and traders say.

For the third straight spring, fear about Europe’s debt crisis has rattled U.S. stocks. Investors are increasingly worried that Greece will exit the euro, and Spain might need an international bailout.