Editor's Note: This brief excerpt and chart are from today's Morning Newsletter which was written by Hedgeye U.S. Macro Analyst Christian Drake. Click here to subscribe.
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...Further, as we show in the Chart of the Day, given the favorable comp dynamics, New Home Sales in March – despite the sequential softness – were still up a remarkable +19.4% YoY. Moreover, with comparison’s remaining favorable through July, year-over-year sales growth is likely to come in in the upper-teens to mid-twenties over the next four months - one would be hard pressed to find a better, rate-of-change chart in all of Global Macro.