Returns face further compression and investors seeking positive real returns would be advised to look at riskier assets: credit, equities and alternatives.
Economic and Strategy Viewpoint
In this month's viewpoint we consider whether we have seen the end of the "Trump trade", if investors have become too complacent and where the danger points are for emerging markets.
This graphic shows the best and worst performing assets each year since 2003 and illustrates why diversifying your investments matters.
Inflation is picking up and political risk is high, so it could be a good time to consider investing in gold. Do Schroders' fund managers agree?
The price of gold was volatile in 2016. We look beyond the short-term performance and evaluate prospects for the precious metal in 2017.