NEW YORK — The big worry a year ago was that Greece would collapse under its debts, upend Europe’s markets and set off a global financial crisis. But the world’s most dangerous bond market turned out to be one of the world’s best bets last year: Greece’s government bonds soared 97 percent as the debt crisis eased. Across Europe, many of the region’s stock markets outpaced those in the U.S.
“It has been a great investment opportunity, because a year ago at this time Europe was a big mess,” said Geoffrey Pazzanese, who manages an international stock fund at Federated Investors.