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    MARKET EDGES

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BREAKING: Despite all the "weather" shorts, US New Home Sales beat big in February. Real big. New home sales were up +7.8% month-over-month versus a -3.5% estimate. 

More notably... sales were up a remarkable +25% year-over-year as organic strength and very easy compares continue to support improving rates of change in housing demand.  

Housing Bears Getting Burned | $ITB - Starts

Housing Bears Getting Burned | $ITB - New Home Sales YoY

The housing bears and bond bears have been taking it on the chin the past few weeks. Housing (ITB) is up over 2% since we added it to Investing Ideas on March 4th versus 0.31% for SPY.  Our Long Bond call (TLT) is up 4.25% in that time.

We are back to net long, in signal terms on that barn burner of a Housing print.

Hedgeye reiterates our US #HousingAccelerating call articulated by our analysts Christian Drake (@HedgeyeUSA) and Josh Steiner (@HedgeyeFIG).

Housing Bears Getting Burned | $ITB - House rocket