TREASURIES-Dip on uncertainty ahead of Lehman announcement

* Bonds slip ahead of Lehman's earnings announcement

* Lehman brings forward announcement by a week

By Shinichi Saoshiro

TOKYO, Sept 10 (Reuters) - U.S. Treasuries dipped in Asia on Wednesday, giving back some of the previous day's sharp gains as uncertainty set in ahead of an announcement of quarterly results by U.S. investment bank Lehman Brothers LEH.N later in the day.

In a sign of the severity of its predicament, the fourth largest Wall Street investment bank brought forward the earnings release by a week to 1130 GMT on Wednesday.

The bank's shares tumbled on Tuesday as concerns over its ability to raise capital arose after reports that talks with a Korean bank over a possible capital infusion had ended.

This renewed credit jitters and boosted the safe haven status of Treasuries on Tuesday.

"The market will be spared from speculation and uncertainty as Lehman brought forward its announcement," said Minako Iida, fixed-income strategist at Barclays Capital.

"Talk of banks facing hardship is likely to persist and keep prompting flight to quality until the housing market recovers," Iida said.

Pending sales of existing U.S. homes fell a more-than-expected 3.2 percent in July, data released by the National Association of Realtors on Tuesday showed. [ID:nN09262357]

But market watchers said prospects for debt were unclear considering the other dynamics involved.

Just a few days before the U.S. government's takeover of battered mortgage lenders Fannie Mae (FNM.N) and Freddie Mac (FRE.N) raised concern it may have to rely on debt to fund the rescue, and Lehman's woes stirred the prospect of another Washington-sponsored bailout.

The benchmark 10-year Treasury note slipped 11/32 in price from late U.S. trading to yield 3.610 percent US10YT=RR.

The two-year note dipped 3/32 in price to yield 2.208 percent US2YT=RR.

(Editing by Jacqueline Wong)