Morning News Tuesday July 24th 2007
General News: - Bloomberg notes that the CDO market is grinding to a halt. CDO sales were $3.7 billion in July compared to $42 billion in June. - Wells Fargo (WFC) will no longer offer 1-year adjustable rate mortgages and dropped offering 2/28 mortgages. - The US Treasury is rumored to be thinking about cutting corporate taxes from 35% to 27%. - Iran and the IAEA are beginning talks on nuclear inspections. Iran is also willing to pump more oil. - The International Council of Shopping Centers reported that sales fell 0.2% last week. Sales up 3.0% y/y. Noted that…