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Katherine Ross: Bond yields have increasingly become a focus point on Wall Street. If I plan on retiring, because obviously I'm of retirement age, retiring this year, should the 10 year have me on edge?

Tony Drake: You know, it's certainly catching a lot of media attention and particularly for retirees, if you're retired or nearing retirement, you know, hearing all this noise can be really scary. But I think it's important to look at the fundamentals of the economy. You know, we would look at our US economy. Job starts are great, unemployment is low. And one of the big indicators we look at is consumer spending, I mean the June rate was over 8%. You know, our economy is doing good. You know, when we have these European, ECB just announced they're going to buy about every debt instrument they can and you know, it may be more of a supply and demand issue. So it's really important for retirees not to get too focused on one big media headline and really focused on the big picture. Have a plan, and try to stay calm and stay focused.

Listen up, retirees, you're going to want to keep a close eye on the fundamentals. 

It's easy to get distracted by all of the headlines and the volatility in the markets, but you're going to want to keep calm and carry on. 

Tony Drake, CEO of Drake and Associates, sat down with TheStreet to explain why retirees and future retirees need to be cautious about the noise in the markets. 

"You know, it's certainly catching a lot of media attention and particularly for retirees, if you're retired or nearing retirement, you know, hearing all this noise can be really scary. But I think it's important to look at the fundamentals of the economy. You know, we would look at our U.S. economy. Job starts are great, unemployment is low. And one of the big indicators we look at is consumer spending...our economy is doing good," said Drake.

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