Core Viewpoint - The article discusses the shift in investment strategies for retirees as bond yields rise, particularly focusing on the implications of high-yield bonds offering around 7% returns in a higher interest rate environment [1] Group 1: Investment Environment - A few years ago, retirees faced challenges in finding income due to near-zero bond yields, forcing them to take on riskier investments [1] - Currently, high-yield bonds are providing approximately 7% returns, prompting a reevaluation of risk for retirees relying on their portfolios for income [1] Group 2: Investment Strategy - The article raises the question of whether high-yield bonds represent the appropriate type of risk for retirees, considering their income needs and risk tolerance [1] - It suggests that retirees may need to consider the balance between income generation and the safety of their investments when evaluating options like Pimco's 7% Yield Bond ETF [1]