Omaha, Neb. ? Michael Phelps set a world record in his first event of the U.S. Olympic swimming trials, touching just ahead of Ryan Lochte to win the 400-meter individual medley in 4 minutes, 5.25 seconds Sunday night. Katie Hoff matched her former North Baltimore teammate in the 400 IM, taking down the women’s mark in 4:31.12. Phelps beat his own mark of 4:06.22, set at last year’s world championships in Australia.