4Q/2002 Worst Bid/Offer Spreads

Here is the 2002 Q4 list of the one hundred worst "actively traded" Municipal Bond market spreads between the lowest bid and the highest offer. To be labeled as actively traded on a specific day, a Municipal Bond must have traded at least four, three or two times.

Date	CUSIP	Municipal Bond Name / Description	Coupon	Maturity	Bid Side Customer Sold to Dealer (Lowest / Highest)	Offer Side Customer Purchase from Dealer (Lowest / Highest)	Spread	# of Trades	Volume (000)
12/04/2002	585650-GJ-7	MELROSE PARK ILL TAX INCREMENT-SER A	4.900	12/15/2021	33.386 / 99.386	99.386 / 99.386	66.000	5	835
11/21/2002	130684-BX-0	CALIFORNIA ST PUB WKS BRD LEASE REV DEPT GEN SVCS-CAP EAST END-A	5.250	12/01/2014	61.256 / 61.256	109.176 / 109.777	48.521	7	13390
12/04/2002	35823H-AC-7	FRESNO CALIF REV VAR-TRINITY HEALTH CREDIT-C		12/01/2030	63.500 / 63.500	100.000 / 100.000	36.500	2	1050
11/14/2002	544628-GA-2	LOS ANGELES CALIF REGL ARPTS IMPT CORP LEASE REV FACS-SUBLEASE-CONTINENTAL	9.250	08/01/2024	70.250 / 99.000	99.250 / 99.250	29.000	5	2045
12/30/2002	123593-BS-3	BUTLER CNTY PA INDL DEV AUTH COML DEV FIRST MTG REV REF-KMART CORP-SER A	6.875	06/15/2006	73.000 / 73.450	100.250 / 100.250	27.250	4	60
11/21/2002	017573-QA-7	ALLEN CNTY OHIO REF	4.625	12/01/2021	71.887 / 71.887	97.225 / 99.063	27.176	4	1070
11/12/2002	432308-KH-6	HILLSBOROUGH CNTY FLA AVIATION AUTH REV REF-SPL PURP-DELTA AIR LINES	6.800	01/01/2024	56.000 / 56.000	58.950 / 82.205	26.205	6	140
10/07/2002	491026-JH-4	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	6.500	02/01/2022	63.750 / 63.750	87.780 / 87.780	24.030	4	605
12/26/2002	544628-EZ-9	LOS ANGELES CALIF REGL ARPTS IMPT CORP LEASE REV REF-UNITED AIR LINES-L A I	6.875	11/15/2012	45.000 / 45.000	45.000 / 69.000	24.000	6	110
12/10/2002	010869-CD-5	ALAMEDA CORRIDOR TRANSN AUTH CALIF REV TAXABLE-SR LIEN-SER C	6.600	10/01/2029	108.501 / 108.641	110.285 / 132.110	23.609	7	3860
12/17/2002	658680-AQ-6	NORTH COLLEGE HILL OHIO CAP IMPT	4.700	12/01/2012	76.450 / 76.450	100.000 / 100.000	23.550	2	200
10/02/2002	592065-Y4-2	METRO GOVT NASHVILLE&DAVIDSON CNTY TENN INDL DEV BRD REV MULTIFAMILY HSG-NA	6.750	01/01/2013	61.030 / 61.030	84.250 / 84.250	23.220	5	50
12/11/2002	13077L-AR-5	CALIFORNIA STATEWIDE CMNTYS DEV AUTH LEASE REV SPL FACS-UNITED AIRLINES-SER	5.700	10/01/2033	15.000 / 31.500	15.000 / 38.000	23.000	18	7225
11/01/2002	491026-JH-4	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	6.500	02/01/2022	54.000 / 59.500	58.000 / 76.000	22.000	19	310
12/06/2002	871239-AB-5	SYKESVILLE MD REV 1ST MTG-ELDERCARE CTR PJ-SER A	8.375	09/01/2010	33.320 / 33.320	55.000 / 55.000	21.680	5	50
12/06/2002	645913-AA-2	NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER A	7.425	02/15/2029	99.000 / 120.310	120.410 / 120.410	21.410	5	68453
11/06/2002	621233-CS-2	MOUNT DORA FLA HEALTH FACS AUTH HEALTH FACS REV WATERMAN VILLAGE PJ-SER A	6.800	08/15/2023	79.000 / 79.000	100.000 / 100.000	21.000	5	30
12/10/2002	13077L-AR-5	CALIFORNIA STATEWIDE CMNTYS DEV AUTH LEASE REV SPL FACS-UNITED AIRLINES-SER	5.700	10/01/2033	14.000 / 14.000	35.000 / 35.000	21.000	3	570
11/25/2002	451916-AC-4	ILLINOIS DEV FIN AUTH ENVIRONMENTAL FACS REV CITIZENS UTILS CO PROJ	5.900	11/15/2028	68.065 / 68.065	88.000 / 88.000	19.935	4	110
12/26/2002	645913-AA-2	NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER A	7.425	02/15/2029	100.000 / 100.000	119.119 / 119.119	19.119	2	1667
12/10/2002	799146-BQ-7	SAN PABLO CALIF REDEV AGY REV SINGLE FAMILY MTG	8.000	10/01/2011	99.250 / 99.250	118.168 / 118.168	18.918	2	10
10/02/2002	939741-GZ-1	WASHINGTON ST ZERO CPN		08/01/2007	67.810 / 67.810	75.810 / 86.638	18.828	5	19
10/02/2002	491026-JG-6	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.500	02/01/2020	78.500 / 78.500	97.000 / 97.000	18.500	5	180
10/18/2002	785652-BW-7	SABINE RIVER AUTH TEX POLLUTN CTL REV ADJ-REF-TXU ELEC CO PJ-SER A	5.500	05/01/2022	83.500 / 102.000	84.250 / 102.000	18.500	8	9085
10/16/2002	592065-Y4-2	METRO GOVT NASHVILLE&DAVIDSON CNTY TENN INDL DEV BRD REV MULTIFAMILY HSG-NA	6.750	01/01/2013	66.176 / 66.176	84.250 / 84.250	18.074	4	60
12/17/2002	010407-AT-1	ALABAMA SPL CARE FACS FING AUTH MONTGOMERY REV METHODIST HOME FOR THE AGING	5.850	06/01/2017	61.125 / 61.125	79.000 / 79.000	17.875	6	150
11/12/2002	592663-XH-6	METROPOLITAN WTR DIST SOUTHN CALIF WTRWKS REV VAR-SER B-3		07/01/2035	100.000 / 100.000	100.000 / 117.780	17.780	3	20400
10/17/2002	13062N-3M-7	CALIFORNIA ST	5.000	10/01/2032	97.125 / 97.421	97.371 / 114.763	17.638	357	99040
12/16/2002	235035-AK-8	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	6.000	11/01/2014	35.000 / 35.000	40.250 / 52.500	17.500	4	45
11/27/2002	455254-DA-7	INDIANAPOLIS IND ARPT AUTH REV SPL FAC-UTD AIR LINES PJ-SER A	6.500	11/15/2031	34.772 / 34.772	45.430 / 52.000	17.228	6	160
11/14/2002	793043-AQ-3	ST PAUL MINN PORT AUTH HSG & REDEV MULTIFAMILY HSG REV SER 1985 J	9.500	12/01/2014	58.000 / 62.500	75.000 / 75.000	17.000	6	85
10/03/2002	074876-BP-7	BEAVER CNTY PA INDL DEV AUTH POLLUTN CTL REV J RAY MCDERMOTT PROJ	6.800	02/01/2009	64.500 / 64.500	81.375 / 81.490	16.990	7	255
10/18/2002	360052-AH-7	FULTON CNTY GA DEV AUTH SPL FACS REV DELTA AIRLINES INC PROJ	5.300	05/01/2013	47.125 / 47.125	64.000 / 64.000	16.875	6	120
10/28/2002	837033-EZ-8	SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH HEALTH FACS REV REF-1ST MTG-LUTHERAN	5.700	05/01/2026	69.464 / 69.464	70.714 / 86.140	16.676	22	1360
10/31/2002	837033-EZ-8	SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH HEALTH FACS REV REF-1ST MTG-LUTHERAN	5.700	05/01/2026	69.464 / 81.650	86.140 / 86.140	16.676	12	370
12/26/2002	455284-AC-3	INDIANAPOLIS IND MULTI-FAMILY REV HSG-SUNRISE APTS PROJ-SER A	6.800	06/01/2019	16.350 / 16.350	33.000 / 33.000	16.650	4	40
10/11/2002	785652-BW-7	SABINE RIVER AUTH TEX POLLUTN CTL REV ADJ-REF-TXU ELEC CO PJ-SER A	5.500	05/01/2022	80.250 / 80.250	81.000 / 96.547	16.297	9	20040
12/02/2002	184160-HQ-5	CLAYTON CNTY GA HSG AUTH MULTIFAMILY HSG REV MAGNOLIA PARK APTS PJ-SER A	5.500	12/01/2009	83.810 / 100.000	100.000 / 100.000	16.190	3	290
12/02/2002	786004-T8-4	SACRAMENTO CALIF MUN UTIL DIST ELEC REV REF-SER A	6.250	08/15/2010	105.250 / 105.250	121.363 / 121.363	16.113	6	150
10/30/2002	28209R-AA-8	EFFINGHAM CNTY GA INDL DEV AUTH POLLUTION CTL REV REF-GA-PACIFIC CORP PROJ	6.500	06/01/2031	67.887 / 68.630	83.735 / 83.735	15.848	5	145
10/09/2002	732557-AJ-2	PONTIAC MICH HOSP FIN AUTH HOSP REV NOMC OBLIG GROUP	6.000	08/01/2018	70.400 / 70.400	86.200 / 86.200	15.800	4	80
10/04/2002	491026-JH-4	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	6.500	02/01/2022	58.500 / 69.704	74.250 / 74.250	15.750	5	185
11/21/2002	888805-AG-3	TOBACCO SETTLEMENT AUTH IOWA TOB SETTLEMENT REV ASSET-BKD-SER B	5.600	06/01/2035	84.129 / 84.129	86.091 / 99.750	15.621	29	3450
12/03/2002	826310-AE-4	SIERRA FOOTHILLS CALIF PUB FING AUTH CTFS PARTN SER A	8.000	12/15/2005	22.400 / 36.500	23.920 / 38.000	15.600	5	70
11/08/2002	491026-JK-7	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.125	02/01/2021	65.590 / 65.590	73.000 / 81.057	15.467	5	2040
11/26/2002	158843-HG-0	CHANDLER ARIZ	6.625	07/01/2006	99.000 / 99.000	100.326 / 114.410	15.410	6	140
11/27/2002	649892-KN-5	NEW YORK ST PWR AUTH REV & GEN PURP	7.500	01/01/2010	101.000 / 116.500	116.380 / 116.380	15.380	4	75
11/13/2002	64578C-AG-6	NEW JERSEY ECONOMIC DEV AUTH SPL FAC REV CONTINENTAL AIRLINES INC PJ	6.400	09/15/2023	50.000 / 50.000	65.250 / 65.250	15.250	4	95
10/09/2002	16876Q-AQ-2	CHILDRENS TR FD P R TOB SETTLEMENT REV ASSET BACKED BDS	6.000	07/01/2026	105.375 / 119.185	105.375 / 120.379	15.004	28	3555
10/21/2002	64579E-PW-0	NEW JERSEY HEALTH CARE FACS FING AUTH REV PASCACK VY HOSP ASSOC	5.125	07/01/2028	66.000 / 66.000	79.969 / 81.000	15.000	6	545
10/22/2002	826310-AF-1	SIERRA FOOTHILLS CALIF PUB FING AUTH CTFS PARTN SER A	8.500	12/15/2018	25.000 / 38.500	40.000 / 40.000	15.000	4	140
11/05/2002	79306E-DG-6	ST PAUL MINN PORT AUTH INDL DEV REV SER C-1996 LOTTERY	10.000	12/01/2006	72.000 / 72.000	87.000 / 87.000	15.000	3	25
12/03/2002	042686-FA-8	ARP TEX INDPT SCH DIST SER A	5.850	02/15/2012	100.000 / 100.000	114.820 / 114.820	14.820	2	290
11/21/2002	64970K-FS-1	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER A	4.750	06/15/2031	85.188 / 94.724	96.217 / 100.000	14.812	21	870
11/21/2002	733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	78.098 / 89.804	89.614 / 92.904	14.806	26	605
12/09/2002	826310-AH-7	SIERRA FOOTHILLS CALIF PUB FING AUTH CTFS PARTN SER A	8.500	10/15/2002	15.500 / 15.500	30.150 / 30.150	14.650	5	80
10/25/2002	686076-CY-4	OREGON ST ECONOMIC DEV REV VAR-GA-PACIFIC CORP-SER CLVII	6.350	08/01/2025	71.672 / 72.972	86.135 / 86.135	14.463	10	135
10/07/2002	537346-AA-6	LITTLE RIV CNTY ARK REV REF-GEORGIA-PACIFIC CORP PROJ	5.600	10/01/2026	68.616 / 68.616	70.516 / 83.000	14.384	7	295
12/13/2002	491026-JF-8	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.500	02/01/2012	74.000 / 74.000	88.293 / 88.293	14.293	2	2010
10/01/2002	076099-AW-0	BEDFORD CNTY VA INDL DEV AUTH INDL DEV REV REF-NEKOOSA PACKAGING PJ-SER A	6.550	12/01/2025	73.463 / 86.800	87.750 / 87.750	14.287	8	2560
10/03/2002	899661-CP-5	TULSA OKLA MUN ARPT TR REV AMERICAN AIRLINES PROJ	6.250	06/01/2020	50.000 / 50.000	54.000 / 64.236	14.236	5	145
12/05/2002	649652-ML-5	NEW YORK N Y SER A	6.250	08/01/2003	87.695 / 87.695	101.812 / 101.812	14.117	3	45
11/13/2002	649892-GD-2	NEW YORK ST PWR AUTH REV & GEN PURP	5.625	01/01/2010	96.138 / 96.138	110.119 / 110.119	13.981	4	320
10/11/2002	645778-BD-2	NEW JERSEY ECONOMIC DEV AUTH POLLUTN CTL REV REF-PSEG PWR LLC PROJ	5.000	03/01/2012	93.771 / 93.771	94.271 / 107.747	13.976	6	56325
10/10/2002	57585J-CS-8	MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV CAPE COD HLTH-CONV 11/08/94	5.400	11/15/2009	103.000 / 103.000	104.741 / 116.912	13.912	7	145
12/20/2002	97710V-BW-7	WISCONSIN ST HEALTH & EDL FACS AUTH REV FROEDERT & CMNTY HEALTH OBLIG	5.375	10/01/2030	88.990 / 96.867	96.000 / 102.875	13.885	8	255
11/18/2002	576233-KP-4	MASSILLON OHIO REF-GOLF COURSE-SER A	4.750	12/01/2031	85.546 / 96.292	96.192 / 99.375	13.829	18	6680
10/01/2002	196474-NU-0	COLORADO HEALTH FACS AUTH REV HEALTH FACS-NATL BENEVOLENT-A	6.375	09/01/2029	82.700 / 82.700	96.471 / 96.471	13.771	4	65
12/16/2002	189045-AX-5	CLOQUET MINN POLLUTN CTL REV REF-POTLACH CORP PROJS	5.900	10/01/2026	84.500 / 84.500	98.250 / 98.250	13.750	2	130
10/07/2002	68607F-8K-9	OREGON ST VETERANS WELFARE-SER 79A	6.000	04/01/2032	98.500 / 108.821	102.500 / 112.221	13.721	4	120
10/22/2002	348163-RK-4	FORT MYERS FLA IMPT REV REF-SER A	5.000	12/01/2022	92.300 / 92.300	99.648 / 106.000	13.700	5	25
12/12/2002	167592-WL-4	CHICAGO ILL O HARE INTL ARPT REV REF-GEN ARPT THIRD LIEN-SER A	5.375	01/01/2032	90.500 / 100.670	102.698 / 104.170	13.670	12	185
11/14/2002	360052-AJ-3	FULTON CNTY GA DEV AUTH SPL FACS REV DELTA AIRLINES INC PROJ	5.450	05/01/2023	54.000 / 54.000	67.600 / 67.600	13.600	5	65
11/05/2002	28209R-AA-8	EFFINGHAM CNTY GA INDL DEV AUTH POLLUTION CTL REV REF-GA-PACIFIC CORP PROJ	6.500	06/01/2031	68.500 / 68.500	82.090 / 82.090	13.590	3	190
10/03/2002	452010-SK-8	ILLINOIS HSG DEV AUTH MULTI-FAMILY HSG	5.000	07/01/2025	81.280 / 93.549	94.849 / 94.849	13.569	6	50
11/21/2002	649839-PG-6	NEW YORK ST DORM AUTH REVS ST UNIV EDL FACS-B-MBIA IBC	4.750	05/15/2028	85.659 / 95.809	95.725 / 99.209	13.550	8	205
11/13/2002	235035-AF-9	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV DELTA AIR LINES INC	7.125	11/01/2026	50.000 / 50.000	56.000 / 63.500	13.500	7	410
11/14/2002	074876-BP-7	BEAVER CNTY PA INDL DEV AUTH POLLUTN CTL REV J RAY MCDERMOTT PROJ	6.800	02/01/2009	51.500 / 54.000	56.000 / 65.000	13.500	15	1045
11/25/2002	443731-BG-8	HUDSON CNTY N J IMPT AUTH SOLID WASTE SYS REV AMT-KOPPERS SITE PROJ-SER A	6.125	01/01/2029	80.000 / 80.000	93.500 / 93.500	13.500	5	80
10/21/2002	148372-AK-1	CASTAIC UN SCH DIST CALIF SPL TAX CMNTY FACS DIST NO 92-1	8.500	10/01/2013	41.160 / 41.160	54.590 / 54.590	13.430	5	75
10/17/2002	986460-AS-2	YORK CNTY S C INDL REV EXEMPT FAC-HOECHST CELANESE	5.700	01/01/2024	86.000 / 86.000	99.381 / 99.381	13.381	3	35
12/17/2002	186347-AF-7	CLEVELAND OHIO ARPT SPL REV REF-CONTINENTAL AIRLINES INC	5.700	12/01/2019	44.620 / 44.620	58.000 / 58.000	13.380	3	4030
10/16/2002	686076-CY-4	OREGON ST ECONOMIC DEV REV VAR-GA-PACIFIC CORP-SER CLVII	6.350	08/01/2025	74.164 / 74.164	87.500 / 87.500	13.336	5	170
11/20/2002	544628-GA-2	LOS ANGELES CALIF REGL ARPTS IMPT CORP LEASE REV FACS-SUBLEASE-CONTINENTAL	9.250	08/01/2024	86.190 / 99.250	99.500 / 99.500	13.310	4	3050
10/10/2002	646139-JP-1	NEW JERSEY ST TPK AUTH TPK REV SER C	6.500	01/01/2016	108.000 / 123.953	121.266 / 121.266	13.266	8	5100
11/21/2002	093674-FX-2	BLOCK HOUSE MUN UTIL DIST TEX	5.250	04/01/2007	97.000 / 97.000	110.251 / 110.251	13.251	3	300
12/23/2002	686076-CY-4	OREGON ST ECONOMIC DEV REV VAR-GA-PACIFIC CORP-SER CLVII	6.350	08/01/2025	75.375 / 75.375	88.600 / 88.600	13.225	3	100
11/21/2002	649837-M7-3	NEW YORK ST DORM AUTH REVS FHA-HOSP-N Y & PRESBYTERIAN	4.750	08/01/2027	85.787 / 94.771	97.858 / 99.000	13.213	8	185
12/13/2002	919675-AK-4	VALLEY HEALTH SYS CALIF CTFS PARTN REF PROJ	6.875	05/15/2023	63.000 / 63.000	76.200 / 76.200	13.200	4	105
10/15/2002	537346-AA-6	LITTLE RIV CNTY ARK REV REF-GEORGIA-PACIFIC CORP PROJ	5.600	10/01/2026	67.253 / 76.542	79.000 / 80.432	13.179	9	345
10/21/2002	074876-BP-7	BEAVER CNTY PA INDL DEV AUTH POLLUTN CTL REV J RAY MCDERMOTT PROJ	6.800	02/01/2009	66.350 / 66.350	79.500 / 79.500	13.150	5	130
10/03/2002	686076-DV-9	OREGON ST ECONOMIC DEV REV REF-GA-PACIFIC CORP PJ-SER 183	5.700	12/01/2025	65.394 / 65.394	78.000 / 78.533	13.139	10	200
10/08/2002	537346-AA-6	LITTLE RIV CNTY ARK REV REF-GEORGIA-PACIFIC CORP PROJ	5.600	10/01/2026	69.865 / 69.865	79.500 / 83.000	13.135	6	160
10/15/2002	898785-JZ-4	TUCSON ARIZ STR & HWY USER REV JR LIEN-SER 1994-D	4.700	07/01/2013	97.000 / 97.000	100.000 / 110.086	13.086	3	40
10/25/2002	914352-Y6-0	UNIVERSITY ILL UNIV REVS	6.750	10/01/2008	101.250 / 101.250	114.267 / 114.267	13.017	3	2060
12/23/2002	235035-AH-5	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	7.250	11/01/2030	35.000 / 35.000	48.000 / 48.000	13.000	2	75
11/21/2002	017575-CC-3	ALLEN CNTY OHIO SWR REV REF	4.375	12/01/2018	87.040 / 87.040	98.247 / 100.000	12.960	3	2330
10/22/2002	899661-CP-5	TULSA OKLA MUN ARPT TR REV AMERICAN AIRLINES PROJ	6.250	06/01/2020	51.050 / 51.050	59.451 / 64.000	12.950	4	215
11/19/2002	659154-YS-1	NORTH EAST INDPT SCH DIST TEX CAP APPREC-SER D		02/01/2006	77.497 / 89.793	78.497 / 90.418	12.921	4	50
10/25/2002	837033-EZ-8	SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH HEALTH FACS REV REF-1ST MTG-LUTHERAN	5.700	05/01/2026	73.727 / 73.727	77.600 / 86.639	12.912	5	430

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.

Data provided by :