Morning News Monday August 27th 2007
General News: - U.S. stocks declined after Lehman Brothers Holdings Inc. analysts reduced their earnings estimates for Countrywide Financial Corp. and traders pared bets that the Federal Reserve will lower its benchmark lending rate. - Sales of previously owned homes fell in July for a fifth month and the glut of unsold properties swelled to a 16-year high as the housing slump in the U.S. dragged on. - The rally in 30-year Treasury bonds, the most profitable U.S. government securities the past 15 months, may become a casualty of the Federal Reserve's efforts to ease a widening credit crunch. - …