(Bloomberg) -- Pimco's Bill Gross recommends staying in bonds maturing in five years and less even after comments last month from Federal Reserve Chair Janet Yellen sent shorter-maturity yields surging.

“The 1–5 year portion of the curve, beaten up recently due to Fed ‘blue dot’ forecasts and Yellen’s ‘six months after’ comments, should hold current levels if inflation stays low,” Gross wrote in his monthly investment commentary on Newport Beach, California-based Pimco’s website. “But 5–30 year maturities are at risk.”

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