NEW YORK (TheStreet) -- With the Federal Reserve artificially keeping interest rates low, Scott Colyer, CEO of Advisors Asset Management, tells TheStreet's Gregg Greenberg where investors should look for yield. 

Colyer said the Fed is trying to raise inflation, while keeping rates low. Eventually interest rates will go up, but to protect themselves, investors have been using short-duration bonds.  The downside is that short-duration bonds have low yields. Instead, he suggested investors look at municipal and corporate bonds, which have higher yields. 

Colyer also suggested that the stock market might provide a better return as well. Specifically, he advised investors to look at gold and copper miner Freeport-McMoRan (FCX)FCX. 

A value investor, Colyer said Freeport looks to have bottomed recently and should continue to move higher. Not only is it a play on copper and gold, he said, but on oil as well, with its completion of an acquisition of two oil drillers in June. 

He added that the company is highly levered to Asia, meaning any acceleration in China will be good for Freeport. 

Colyer called Freeport a well-rounded, global natural-resources provider with a solid dividend and insider buying, to boot, and concluded that it also has big-name investors Leon Cooperman and David Tepper involved. 

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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