Here is the list of the hundred worst "actively traded" Municipal Bond market spreads for the 2nd Quarter of 2002. To be labeled as actively traded on a specific day, a Municipal Bond must have traded at least three/four times.

Date	CUSIP	Municipal Bond Name / Description	Coupon	Maturity	Best (Highest) Bid	Best (Lowest) Offer	Spread	# of Trades	Volume (000)
05/15/2002	46245T-AM-6	IOWA FIN AUTH CMNTY REHABILITATION PROVIDERS REV LUTHERAN CHILDRENS-BREMWOO	5.800	12/01/2024	54.000	86.492	32.492	6	75
04/02/2002	508253-AF-8	LAKE CNTY FLA RES REC INDL DEV REV REF-AMT-NRG/RECOVERY GRP-SER A	5.400	10/01/2003	76.030	100.000	23.970	7	95
06/26/2002	89438L-AP-3	TRAVIS CNTY TEX HEALTH FACS DEV CORP REV HLTH FACS-WESTMINSTER MNR HLTH	7.000	07/01/2015	76.380	100.000	23.620	3	6
05/21/2002	74265L-EG-9	PRIVATE COLLEGES & UNIVS AUTH GA REV AGNES SCOTT COLLEGE PROJ	4.000	06/01/2007	83.125	102.732	19.607	3	30
04/29/2002	924211-UQ-6	VERMONT MUN BD BK SER 1	6.125	12/01/2012	106.498	125.541	19.043	4	60
06/27/2002	010621-BE-9	ALABAMA ST SPACE SCIENCE EXHIBIT FIN AUTH REV SPACE CAMP DORMITORY PROJ	6.500	08/01/2007	68.200	87.100	18.900	5	25
05/01/2002	881754-AL-9	TEXARKANA ARK MULTIFAMILY HSG REV MEDICALODGES INC PROJ	8.000	01/01/2015	82.000	100.000	18.000	4	20
06/11/2002	613603-NF-2	MONTGOMERY CNTY PA HIGHER ED & HEALTH AUTH REV TEMPLE CONTINUING CARE CTR	6.750	07/01/2029	44.500	62.000	17.500	3	225
06/06/2002	271613-BF-7	EAST CHICAGO IND POLLUTN CTL REV INLAND STL CO PROJ NO 5	5.750	02/01/2007	45.500	60.250	14.750	3	65
05/09/2002	283487-QS-8	EL PASO CNTY COLO SINGLE FAMILY MTG REV PREREFUNDED-CAP ACCUMULATOR-A		09/01/2015	37.340	51.856	14.516	4	200
05/09/2002	537346-AA-6	LITTLE RIV CNTY ARK REV REF-GEORGIA-PACIFIC CORP PROJ	5.600	10/01/2026	76.205	90.500	14.295	6	120
05/21/2002	735667-BV-8	PORTAGE CNTY OHIO INDL DEV REV REF-KMART CORP PROJ	6.700	12/01/2006	70.250	84.000	13.750	5	100
04/15/2002	717826-EA-5	PHILADELPHIA PA HOSPS AUTH REV GRADUATE HOSP PROJ	7.000	07/01/2010	98.000	111.509	13.509	4	60
04/18/2002	39466P-AB-5	GREENE CNTY PA INDL DEV AUTH HEALTH CARE FAC REV FIRST MTG-GF/GREENE CARE I	9.000	01/01/2025	36.575	50.000	13.425	5	100
05/30/2002	649654-AJ-9	NEW YORK N Y	5.400	04/01/2008	83.180	96.180	13.000	4	4
05/30/2002	249181-TL-2	DENVER COLO CITY & CNTY ARPT REV UNREFUNDED BAL-SER C-MBIA-IBC	6.125	11/15/2025	98.000	110.970	12.970	5	85
06/27/2002	924258-DV-5	VERMONT ST SER C	4.750	01/15/2017	101.859	114.560	12.701	3	300
05/16/2002	83786D-BC-0	SOUTH FORK MUN AUTH PA HOSP REV LEE HOSP PROJ-SER A	5.500	07/01/2023	85.340	98.000	12.660	4	40
04/02/2002	452010-QH-7	ILLINOIS HSG DEV AUTH MULTI FAMILY HSG	7.000	07/01/2023	111.500	124.147	12.647	5	25
05/07/2002	708692-AD-0	PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV USG CORP PROJ	6.000	06/01/2031	53.530	66.100	12.570	7	530
04/02/2002	194640-AT-5	COLLIER CNTY FLA INDL DEV AUTH FIRST MTG REV REF-WILLOUGH AT NAPLES PJ-A	8.500	11/01/2007	82.300	94.500	12.200	5	25
06/13/2002	716220-AV-0	PETERSBURG IND POLLUTN CTL REV REF-INDIANAPOLIS PWR & LT-C	5.500	10/01/2023	84.477	96.500	12.023	4	150
06/06/2002	821697-GR-4	SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD REV 1ST MTG-WESLEY HIGHLAND MANO	7.000	07/01/2013	88.000	100.000	12.000	3	45
05/03/2002	132814-AT-1	CAMDEN CNTY NJ POLLTN CTL FING AUTH SOLID WASTE RES RECOV REV AMT-SER B	7.500	12/01/2009	89.020	101.000	11.980	5	50
05/03/2002	889854-CV-5	TOMBALL TEX HOSP AUTH REV REF	6.125	07/01/2023	87.604	99.500	11.896	5	75
05/10/2002	508253-AH-4	LAKE CNTY FLA RES REC INDL DEV REV REF-AMT-NRG/RECOVERY GRP-SER A	5.850	10/01/2009	87.400	99.109	11.709	4	70
05/24/2002	717825-MX-8	PHILADELPHIA PA HOSPS & HIGHER ED FACS AUTH REV TEMPLE UNIV CHILDRENS MED-A	5.375	06/15/2011	87.630	99.238	11.608	6	160
04/30/2002	563018-CT-5	MANHATTAN KANS INDL REV FARRAR CORP PROJ	7.000	08/01/2014	85.375	96.799	11.424	4	135
04/02/2002	899522-AN-6	TULSA CNTY OKLA INDL AUTH MULTIFAMILY REV HSG-FIRST MTG-SER A	8.000	01/01/2016	81.800	93.000	11.200	4	60
04/16/2002	865410-AA-2	SULPHUR LA HSG & MTG FIN TR RESIDENTIAL MTG REV	7.250	12/01/2010	104.000	115.129	11.129	4	90
04/02/2002	181004-AX-0	CLARK CNTY NEV INDL DEV REV REF-NEVADA PWR CO PJ-SER B	5.900	10/01/2030	70.250	81.287	11.037	4	200
04/16/2002	57585K-LG-1	MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV WINCHESTER HOSP-SER E	6.750	07/01/2030	91.514	102.500	10.986	5	50
04/30/2002	130626-AH-7	CALIFORNIA ST	3.500	12/01/2015	80.000	90.877	10.877	4	20
04/10/2002	95648R-AC-2	WEST VA ECONOMIC DEV AUTH COML DEV REV TLM AIRCRAFT LLS PROJ	7.500	08/01/2019	76.000	86.700	10.700	6	100
05/15/2002	846856-AQ-5	SPARTANBURG CNTY S C HOSP FACS REV BLACK MEM HOSP PROJ	7.100	10/01/2011	102.000	112.625	10.625	3	295
06/07/2002	468151-AA-3	JACKSON CNTY W VA POLLUTN CTL REV KAISER ALUM & CHEM CORP PROJ	6.500	03/01/2008	27.500	38.000	10.500	3	40
06/27/2002	196474-FL-9	COLORADO HEALTH FACS AUTH REV REF-NATL BENEVOLENT ASSOC-A	5.200	01/01/2018	81.500	92.000	10.500	4	400
04/24/2002	250221-AA-6	DES PLAINES ILL ECONOMIC DEV REV REF-HARTMARX CORP PROJ	7.250	07/01/2015	33.500	44.000	10.500	5	50
06/20/2002	433187-BW-0	HINDS CNTY MISS URBAN RENEWAL REV LODGE APTS PROJ	8.000	10/15/2022	91.000	101.500	10.500	9	370
05/14/2002	442434-FJ-0	HOUSTON TEX SWR SYS REV	9.375	10/01/2013	128.890	139.375	10.485	7	735
05/31/2002	075499-BD-4	BEAVERTON MICH ELDERLY HSG DEV CORP FIRST LIEN REV	8.125	11/01/2008	93.380	103.860	10.480	6	60
05/03/2002	649715-BQ-1	NEW YORK N Y CITY TRAN AUTH TRAN FACS REV REF-LIVINGSTON PLAZA PROJ	5.400	01/01/2018	95.000	105.413	10.413	4	20
06/20/2002	61213K-AD-2	MONTANA ST BRD INVT RESOURCE RECOVERY REV YELLOWSTONE ENERGY L P PROJ	7.000	12/31/2012	80.000	90.250	10.250	4	130
05/10/2002	686076-DV-9	OREGON ST ECONOMIC DEV REV REF-GA-PACIFIC CORP PJ-SER 183	5.700	12/01/2025	83.500	93.665	10.165	4	150
05/31/2002	626190-S9-4	MUNICIPAL ASSISTANCE CORP FOR CITY NEW YORK N Y SER I	6.250	07/01/2005	100.026	110.178	10.152	5	1750
06/25/2002	649658-AF-8	NEW YORK N Y	6.500	02/01/2015	107.397	117.477	10.080	4	20
05/28/2002	088354-CX-1	BEXAR CNTY TEX HEALTH FACS DEV CORP REV BAPTIST HEALTH SYS PJ-SER B	5.250	11/15/2031	89.987	100.000	10.013	5	240
05/01/2002	123558-AZ-1	BUTLER CNTY OHIO MULTIFAMILY REV HSG-MTG-OLDE TOWNE-SER A	6.875	01/01/2012	14.000	24.000	10.000	4	20
05/15/2002	567564-AT-6	MARICOPA-STANFIELD IRR & DRAIN DIST ARIZ REF	7.000	06/01/2004	90.000	100.000	10.000	4	12
05/30/2002	89438L-AP-3	TRAVIS CNTY TEX HEALTH FACS DEV CORP REV HLTH FACS-WESTMINSTER MNR HLTH	7.000	07/01/2015	90.000	100.000	10.000	5	50
06/21/2002	162410-AR-5	CHATTANOOGA TENN HEALTH EDL & HSG FAC BRD REV CATHOLIC HLTH INITIATIVES-A	5.000	12/01/2028	90.000	100.000	10.000	3	90
05/16/2002	939741-UE-2	WASHINGTON ST COLLEGE SVGS-ZERO CPN		08/01/2013	44.500	54.477	9.977	4	4
06/19/2002	081516-AD-8	BEN HILL CNTY GA DEV AUTH HEALTHCARE FAC REV CHAMBER HEALTH CARE SOC INC-A	7.750	08/01/2029	71.590	81.500	9.910	5	40
06/25/2002	93978E-KG-6	WASHINGTON ST HEALTH CARE FACS AUTH REV SOUTHWEST WASH MED CTR	5.000	09/01/2028	87.271	97.150	9.879	5	25
05/01/2002	67910H-FB-1	OKLAHOMA ST MUN PWR AUTH PWR SUPPLY SYS REV SER B	5.875	01/01/2024	97.020	106.750	9.730	5	25
06/11/2002	952347-DE-9	WEST CONTRA COSTA CALIF UNI SCH DIST SER C	6.000	08/01/2024	100.871	110.600	9.729	5	35
04/23/2002	649858-SE-8	NEW YORK ST HSG FIN AGY NON PROFIT HSG	6.600	11/01/2009	100.269	109.919	9.650	5	50
06/26/2002	251255-C2-9	DETROIT MICH WTR SUPPLY SYS REV SECOND LIEN-SER B	5.000	07/01/2017	92.900	102.550	9.650	4	40
06/10/2002	74265L-GM-4	PRIVATE COLLEGES & UNIVS AUTH GA REV TAXABLE-REF-MERCER UNIV PJ-B	7.500	10/01/2029	93.750	103.360	9.610	5	100
06/25/2002	451187-BK-3	IDAHO FALLS IDAHO ELEC REV	10.375	04/01/2013	121.500	131.100	9.600	4	20
05/17/2002	01852L-AA-8	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLINES INC PROJ	7.500	12/01/2029	86.050	95.618	9.568	3	30
04/09/2002	167590-DN-5	CHICAGO ILL O HARE INTL ARPT SPL FAC REV REF-UTD AIR LINES INC PJ-SER A	5.350	09/01/2016	48.450	58.000	9.550	4	430
04/09/2002	65820H-NJ-8	NORTH CAROLINA MED CARE COMMN HOSP REV REF-WAYNE MEM HOSP	4.750	10/01/2021	85.000	94.529	9.529	4	20
06/04/2002	617320-AN-6	MORGAN CNTY W VA RESIDENTIAL MTG REV	7.625	09/01/2010	102.500	111.985	9.485	5	25
06/13/2002	575895-CJ-4	MASSACHUSETTS ST PORT AUTH REV	6.000	07/01/2011	102.375	111.821	9.446	4	200
05/01/2002	129673-AB-5	CALHOUN CNTY S C INDL DEV REV CONTL GROUP INC PROJ	5.900	06/01/2007	92.560	102.000	9.440	4	20
04/01/2002	745145-HX-3	PUERTO RICO COMWLTH PUB IMPT-MBIA IBC	4.750	07/01/2023	87.330	96.740	9.410	4	70
06/20/2002	791311-CX-9	ST LOUIS CNTY MO MTG REV GNMA COLL-SER B	8.375	07/01/2019	124.450	133.750	9.300	5	125
04/18/2002	639683-5Q-0	NEBRASKA PUB PWR DIST REV GEN-SER B	5.000	01/01/2028	90.700	99.992	9.292	6	135
06/19/2002	433187-BW-0	HINDS CNTY MISS URBAN RENEWAL REV LODGE APTS PROJ	8.000	10/15/2022	92.000	101.250	9.250	9	545
05/08/2002	658196-PN-4	NORTH CAROLINA EASTN MUN PWR AGY PWR SYS REV REF-SER B	5.500	01/01/2021	87.466	96.683	9.217	5	65
06/26/2002	341422-DE-0	FLORIDA ST BRD ED CAP OUTLAY PUB ED-SER F	5.500	06/01/2026	97.050	106.240	9.190	3	25
04/09/2002	574216-4Q-7	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV JOHNS HOPKINS HOSP	5.000	05/15/2028	88.000	97.156	9.156	9	75
06/11/2002	605277-AC-6	MISSISSIPPI BUSINESS FIN CORP MISS POLLUTN CTL REV REF-SYS ENERGY RES INC P	5.900	05/01/2022	88.000	97.146	9.146	4	80
04/10/2002	190813-LJ-2	COBB CNTY GA KENNESTONE HOSP AUTH REV CTFS-SER A	5.000	04/01/2024	89.861	98.993	9.132	4	65
04/25/2002	067271-AC-0	BARBOURSVILLE W VA MULTIFAMILY REV HSG-MTG-HLTH PARTNERS-SER A	7.500	04/01/2029	87.000	96.038	9.038	4	55
04/29/2002	682756-AN-1	ONONDAGA CNTY N Y RES RECOVERY AGY REV PROJ-RES RECOVERY FAC	6.875	05/01/2006	71.000	80.000	9.000	4	40
05/01/2002	796265-AR-7	SAN ANTONIO TEX HSG FIN CORP MULTI-FAMILY HSG REV 08011993 750008012023 1ST	7.500	08/01/2023	71.000	80.000	9.000	4	75
05/07/2002	524805-F3-7	LEHIGH CNTY PA GEN PURP AUTH REVS KIDSPEACE OBLIG GRP	5.800	11/01/2012	84.000	93.000	9.000	5	150
05/31/2002	041438-FG-2	ARLINGTON CNTY VA INDL DEV AUTH HOSP FAC REV VA HOSP CTR ARLINGTON HLTH SYS	5.250	07/01/2031	89.550	98.529	8.979	13	250
04/24/2002	888806-AD-8	TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B	6.375	05/15/2030	96.080	105.055	8.975	4	20
06/13/2002	491356-CE-9	KENTUCKY LOC CORRECTIONAL FACS CONSTR AUTH REV REF-MULTI-CNTY CORR FACS	5.500	11/01/2014	97.375	106.347	8.972	5	30
05/21/2002	795747-K8-6	SALT RIVER PROJ ARIZ AGRIC IMPT & PWR DIST ELEC SYS REV SER C	5.000	01/01/2025	91.050	99.993	8.943	14	400
06/19/2002	130626-BB-9	CALIFORNIA ST	5.800	06/01/2015	96.700	105.594	8.894	4	20
06/19/2002	544358-BB-9	LOS ANGELES CALIF CTFS PARTN HOLLYWOOD PRESBYTERIAN MED CTR	9.625	07/01/2013	124.000	132.893	8.893	3	150
05/15/2002	235035-AF-9	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV DELTA AIR LINES INC	7.125	11/01/2026	90.250	99.137	8.887	4	85
06/12/2002	362848-BB-8	GAINESVILLE FLA UTILS SYS REV	8.125	10/01/2014	115.875	124.750	8.875	3	70
05/24/2002	569027-EF-8	MARION CNTY IND CONVENTION & RECTL FACS AUTH EXCISE TAX REV SUB-LEASE RENTA	5.000	06/01/2027	89.000	97.873	8.873	4	70
04/26/2002	469364-FR-9	JACKSONVILLE FLA ELEC AUTH REV ELEC SYS-SER 3-A	5.100	10/01/2032	90.750	99.536	8.786	4	40
04/17/2002	799146-BQ-7	SAN PABLO CALIF REDEV AGY REV SINGLE FAMILY MTG	8.000	10/01/2011	109.050	117.814	8.764	5	45
04/03/2002	642290-EM-8	NEW BERLIN WIS HSG AUTH REV REF-HSG-PINEWOOD CREEK PROJ	7.125	05/01/2024	93.000	101.749	8.749	4	60
04/26/2002	725302-AR-4	PITTSBURGH PA URBAN REDEV AUTH SPL TAX TAXABLE	9.070	09/01/2014	104.630	113.370	8.740	5	115
05/08/2002	537346-AA-6	LITTLE RIV CNTY ARK REV REF-GEORGIA-PACIFIC CORP PROJ	5.600	10/01/2026	83.250	91.911	8.661	5	205
05/13/2002	382065-AA-8	GOOCHLAND CNTY VA INDL DEV AUTH INDL DEV REV REF-NEKOOSA PACKAGING CORP	5.650	12/01/2025	77.000	85.640	8.640	7	50
04/23/2002	179027-PD-3	CLACKAMAS CNTY ORE HOSP FAC AUTH REV REF-ODD FELLOWS HOME-SER A	5.875	09/15/2021	85.360	94.000	8.640	4	20
05/15/2002	130534-DW-7	CALIFORNIA POLLUTN CTL FING AUTH POLLUTN CTL REV KAISER STEEL CORP PROJ	7.250	10/01/2008	104.000	112.633	8.633	3	40
06/25/2002	98640L-AY-9	YORK CNTY PA INDL DEV AUTH REV PERS CARE FAC-1ST PRIORITY PMT	9.250	10/01/2019	91.375	100.000	8.625	3	150
06/10/2002	646135-EM-1	NEW JERSEY ST TRANSN TR FD AUTH TRANSN SYS-SER A	5.000	06/15/2015	95.906	104.495	8.589	5	25
06/28/2002	076099-AT-7	BEDFORD CNTY VA INDL DEV AUTH INDL DEV REV REF-NEKOOSA PACKAGING CORP PJ	5.600	12/01/2025	78.500	87.085	8.585	4	80
06/24/2002	235298-AG-1	DALLAS TEX HSG FIN CORP MULTI- FAMILY HSG REV BROWNSTONE APTS PROJ-SER B	8.000	10/01/2006	98.860	107.400	8.540	4	40

These reports represent inter-dealer and customer trades in municipal securities that have been reported by dealers to the Municipal Securities Rulemaking Board. The reports do not necessarily reflect all transactions that were effected on the specific trade date. Because of the possibility of errors in the trade submission process or errors or omissions in other processing of data, the reports should not be used as the sole basis for pricing or executing transactions in municipal securities. Prices for securities transactions vary with market conditions and can be affected by trade size and other factors.

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