For those looking for better yields in non-bank investments, this WSJ article
has some investments to consider. One concern for the future is how investments will perform when interest rates finally start to rise. As the article speculates, rates will likely stay low in the short-term, but it's possible we could see sharp rate hikes in the next few years.
The article has a good review of the various investments that should hold up reasonably well in a rising rate environment. These include floating rate debt, high-yield bonds, convertibles, dividend-paying stocks, commodities and TIPS.
One bit of questionable advice in my opinion is their suggestions about cash. According to the article "Investors also might consider high-quality money-market funds." I don't see why anyone would want to keep a significant amount of money in money market funds. The best money market fund yield that I can find only pays a yield of 0.27%. You can easily make 4x to 5x more in bank savings accounts.