Faber says US at start of recession

Marc Faber recommends Treasuries and says the US is at the start of an economic recession, clashing with Federal Reserve Chair Janet Yellen's view that things are improving. "10-year US Treasuries are quite attractive because of my outlook for a weakening economy," Faber, publisher of the Gloom, Boom & Doom Report, had said in an interview with Bloomberg on Monday. "I believe that we're already entering a recession in the United States" and US stocks will fall in 2016, he said. Yellen raised interest rates this month for the first time in almost a decade and said Americans should take the decision as a sign of confidence in the US economy.