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2003/Q2 Worst Bid/Offer Spreads

Here is the 2003/Q2 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 two times.

Note: Because of pressure from MunicipalBonds.com and increasing coverage about pricing problems in the Muni Markets, on June 23, 2003 the Muni industry finally started releasing full next-day trade reports. This includes a Municipal Bond that traded only once...or "1 trade" markets. Because MunicipalBonds.com currently studies same-day spread problems, the additional reporting of "1 trade" markets is not applicable to Worst Spread reports...there needs to be at least two trades to create and judge a spread.

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
Red Flag
# of
Trades
Volume
(000)
06/02/2003646139-JP-1NEW JERSEY ST TPK AUTH TPK REV SER C  6.50001/01/2016 11.750 / 11.750 11.250 / 120.108108.358565
05/30/2003939741-RW-6WASHINGTON ST REF-SER R-93B  5.37510/01/2008 11.532 / 11.532 116.141 / 116.141104.6094200
06/02/2003246352-AH-1DELAWARE RIV PORT AUTH PA & NJ REV  5.50001/01/2026 10.772 / 107.631 10.572 / 111.167100.3958205
05/29/2003981305-PV-1WORCESTER MASS MUN PURP LN-SER A  4.90007/01/2010 11.000 / 11.000 111.388 / 111.388100.38842000
06/02/2003439686-CS-3HOPEWELL VALLEY N J REGL SCH DIST  5.80005/01/2006 10.972 / 10.972 10.722 / 111.272100.3005125
06/02/2003436704-U3-2HOLYOKE MASS  5.25008/01/2006 11.009 / 11.009 10.759 / 111.022100.0135250
05/29/2003079491-PH-3BELLINGHAM MASS  4.30003/15/2012 10.000 / 10.000 109.644 / 109.64499.64441050
06/03/2003455280-N4-5INDIANAPOLIS IND LOC PUB IMPT BD BK SER D  4.90001/01/2007 10.636 / 10.636 10.524 / 109.94199.30551250
06/03/2003130629-M2-1CALIFORNIA ST  4.25009/01/2008 11.405 / 11.405 110.605 / 110.60599.2003225
06/03/2003685370-BU-1ORANGEBURG CNTY S C SCH DIST NO 003  5.50004/01/2010 10.848 / 10.848 108.621 / 108.62197.773440
06/02/2003614155-FU-8MONTGOMERY TWP N J BRD ED  5.00004/01/2026 10.698 / 104.000 10.448 / 108.40197.7039200
06/02/2003130629-B8-0CALIFORNIA ST  5.25006/01/2018 10.941 / 106.632 10.926 / 108.50697.56561200
06/02/2003341426-DR-2FLORIDA ST BRD ED CAP OUTLAY PUB ED-SER C  4.75006/01/2029 10.000 / 10.000 10.372 / 106.73096.7309295
06/02/2003882854-DJ-8TEXAS WTR DEV BRD REV ST REVOLVING FD-SR LIEN-B  5.12507/15/2018 10.375 / 10.375 10.625 / 107.00096.62552250
06/02/200364579E-2H-8NEW JERSEY HEALTH CARE FACS FING AUTH REV FHA-JERSEY CITY MED CENTER  5.00008/01/2041 10.090 / 101.737 10.890 / 106.33496.24413330
06/02/2003646148-QZ-2NEW JERSEY WASTEWATER TREATMENT TR LN REV INSD-SER B  6.37504/01/2014 10.443 / 10.443 10.193 / 106.07995.6365125
06/03/2003414003-L3-5HARRIS CNTY TEX REF-TOLL RD-SR LIEN  5.00008/15/2016 10.458 / 103.580 106.080 / 106.08095.6228145
06/02/2003649716-R2-5NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV FUTURE TAX SECD-SER B  5.00005/01/2026 10.920 / 10.920 10.170 / 106.50095.5805405
05/29/2003005644-J6-7ADAMS CNTY COLO SCH DIST NO 012 REF-D-CONV TAX EXEMPT-10/16/96  5.20012/15/2004 10.000 / 10.000 10.000 / 105.50095.500575
06/02/2003101427-AH-5BOULDER COLO CTFS PARTN REF  4.62512/01/2004 10.066 / 10.066 105.343 / 105.34395.2773300
05/30/2003068167-NK-7BARNSTABLE MASS  4.25003/15/2005 10.464 / 10.464 105.524 / 105.52495.0603300
06/02/2003251129-R9-5DETROIT MICH CITY SCH DIST SCH BLDG & SITE IMPT-SER B  4.75005/01/2033 10.000 / 10.083 104.000 / 104.75094.7505130
05/30/2003924211-Q2-4VERMONT MUN BD BK REF-SER 1  3.10012/01/2009 10.379 / 10.379 104.798 / 104.79894.419345
05/30/2003251129-R9-5DETROIT MICH CITY SCH DIST SCH BLDG & SITE IMPT-SER B  4.75005/01/2033 10.000 / 10.000 104.000 / 104.00094.000360
06/03/2003590281-GK-1MERRIMACK CNTY N H  3.00012/01/2008 10.879 / 104.879 10.254 / 104.87994.0008400
06/03/2003251129-R9-5DETROIT MICH CITY SCH DIST SCH BLDG & SITE IMPT-SER B  4.75005/01/2033 10.000 / 10.000 102.500 / 104.00094.000695
06/02/2003546415-JS-0LOUISIANA ST REF-SER A  5.00004/15/2004 10.200 / 10.200 10.825 / 103.39393.19342000
06/03/2003138141-HR-0CANTON CONN  3.50005/01/2012 10.964 / 10.964 103.964 / 103.96493.0003120
06/02/200364966C-JZ-5NEW YORK N Y SER J  4.75006/01/2033 10.000 / 99.426 99.051 / 102.34692.3465113545
06/03/2003791340-BG-6ST LOUIS CNTY MO REGL CONVENTION & SPORTS COMPLEX AUTH CONVTN & SPORTS PJ & 5.50008/15/2007 10.554 / 10.554 102.604 / 102.60492.050460
06/02/200372316M-CC-1PINELLAS CNTY FLA HEALTH FACS AUTH REV HOSP-BAYFRONT OBLIG GROUP-A  5.60007/01/2023 10.328 / 10.328 102.128 / 102.12891.800335
06/02/200320774L-C8-6CONNECTICUT ST HEALTH & EDL FACS AUTH REV CONN ST UNIV SYS-SER E  4.37511/01/2029 10.000 / 10.000 99.976 / 101.34491.344242150
06/03/2003590281-GP-0MERRIMACK CNTY N H  3.12512/01/2012 10.021 / 10.021 10.146 / 101.02191.0006270
06/05/2003833153-KL-2SNOHOMISH CNTY WASH SCH DIST NO 015 EDMONDS REF  4.75012/01/2003 10.364 / 10.364 101.364 / 101.36491.0002200
06/02/2003643136-QS-6NEW CANAAN CONN REF  3.20011/01/2013 10.000 / 10.000 100.989 / 100.99090.9907315
06/03/2003977123-JH-2WISCONSIN ST TRANSN REV SER A  5.00007/01/2003 10.116 / 10.116 100.265 / 100.26590.1494800
06/10/2003452281-DN-5ILLINOIS STUDENT ASSISTANCE COMMN STUDENT LN REV AUCTION RATE-SR-SER DD-I  3.80003/01/2005 10.000 / 100.000 99.997 / 100.01090.010928000
06/02/2003736754-AJ-1PORTLAND ORE WTR SYS REV  4.70008/01/2003 10.586 / 10.586 10.461 / 100.58690.0004210
06/05/2003181144-MG-8CLARK CNTY WASH SCH DIST NO 037 VANCOUVER  5.00006/01/2004 30.060 / 30.060 103.060 / 103.06073.0002200
06/10/200359465M-JJ-5MICHIGAN ST HSG DEV AUTH RENTAL HSG REV SER B  3.85010/01/2004 30.251 / 30.251 103.151 / 103.15172.9002200
05/19/2003165141-BZ-4CHESAPEAKE BAY BRDG & TUNL COMMN VA DIST REV REF-GEN RESOLUTION  5.25007/01/2019 47.677 / 47.677 106.438 / 106.43858.761435
05/27/2003013554-KM-1ALBUQUERQUE N MEX JT WTR & SEW SYS REV CAP APPREC-SER A  07/01/2006 43.300 / 43.300 95.200 / 95.20051.900360
06/05/2003760133-QB-7RENTON WASH  4.35012/01/2014 60.074 / 60.074 106.074 / 106.07446.0002400
06/05/2003833102-QC-3SNOHOMISH CNTY WASH PUB UTIL DIST NO 001 ELEC REV GENERATION SYS  6.00001/01/2005 60.353 / 60.353 106.353 / 106.35346.0002200
06/05/2003939741-B9-4WASHINGTON ST MOTOR VEHICLE FUEL TAX-SER E  5.45009/01/2013 60.987 / 60.987 106.987 / 106.98746.0002200
04/11/2003745181-XU-6PUERTO RICO COMWLTH HWY & TRANSN AUTH HWY REV REF-SER AA-AMBAC  5.00007/01/2035 108.907 / 108.907 108.775 / 152.67043.7639852900
05/20/2003930863-WB-7WAKE CNTY N C SER B  4.50002/01/2010 68.957 / 68.957 111.267 / 111.30342.346111500
05/07/2003360052-AG-9FULTON CNTY GA DEV AUTH SPL FACS REV DELTA AIR LINES INC PROJ  6.95011/01/2012 45.000 / 67.000 69.000 / 77.12532.12561400
06/09/2003076099-AT-7BEDFORD CNTY VA INDL DEV AUTH INDL DEV REV REF-NEKOOSA PACKAGING CORP PJ  5.60012/01/2025 74.625 / 74.625 78.000 / 104.50029.87511570
06/05/2003939745-DP-7WASHINGTON ST REF-SER R-96C  4.90007/01/2007 80.388 / 80.388 108.388 / 108.38828.0002200
06/17/2003013538-FR-9ALBUQUERQUE N MEX ARPT REV REF-GOVTL PURPOSE  4.90007/01/2015 80.500 / 80.500 108.500 / 108.50028.000250
05/08/2003373540-RK-1GEORGIA MUN ELEC AUTH PWR REV CAP APPREC-SER L  01/01/2009 68.322 / 68.322 96.023 / 96.02327.701480
06/26/2003196474-FL-9COLORADO HEALTH FACS AUTH REV REF-NATL BENEVOLENT ASSOC-A  5.20001/01/2018 49.500 / 49.500 53.000 / 76.93527.4357225
04/23/2003346668-BP-0FORSYTH MONT POLLUTION CTL REV REF-MONTANA PWR-COLSTRIP PJ-A  6.12505/01/2023 73.000 / 73.500 99.748 / 99.74826.7485125
04/22/2003346668-BP-0FORSYTH MONT POLLUTION CTL REV REF-MONTANA PWR-COLSTRIP PJ-A  6.12505/01/2023 66.500 / 73.110 92.167 / 92.16725.6677475
06/24/200368407L-DA-4ORANGE BEACH ALA WTR SWR & FIRE PROTN AUTH REV  2.50005/15/2009 73.817 / 99.470 99.470 / 99.47025.6533900
05/09/2003454909-BF-8INDIANA ST DEV FIN AUTH ECONOMIC DEV REV REF-HARTMARX CORP PROJ  7.25007/01/2014 50.000 / 50.000 73.669 / 75.42825.4285200
06/24/2003816533-FZ-1SELMA CALIF PUB FING AUTH REV  7.05009/15/2008 43.250 / 43.250 68.250 / 68.25025.000580
04/15/2003542690-BD-3LONG ISLAND PWR AUTH N Y ELEC SYS REV GEN-SER A  5.12512/01/2016 83.096 / 83.096 105.966 / 106.30023.20442425
04/01/200338122N-AP-7GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A- 6.25006/01/2033 78.978 / 84.970 80.300 / 102.00023.022492200
05/19/2003548100-V3-7LOWER COLO RIV AUTH TEX REV PREREFUNDED-JR LIEN  6.00001/01/2017 97.070 / 114.000 119.117 / 119.11722.047435
04/01/2003888806-AB-2TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B  6.00005/15/2022 79.180 / 83.121 82.680 / 101.07521.895599595
05/05/200364970K-JJ-7NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER B  5.00006/15/2029 81.750 / 81.750 103.000 / 103.50021.7504240
05/28/200364971S-BA-6NEW YORK N Y CITY INDL DEV AGY SPL FAC REV NORTHWEST AIRLINES INC  6.00006/01/2027 40.690 / 40.690 59.065 / 61.35020.6609160
04/01/2003888806-AC-0TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B  6.37505/15/2028 78.000 / 95.500 83.898 / 98.45320.453231380
04/29/2003452226-ML-4ILLINOIS ST SALES TAX REV SER L-ILL RETIRE-GROWTH & TEN  06/15/2009 102.000 / 102.000 122.235 / 122.23520.235245
06/24/2003733581-DE-9PORT AUTH N Y & N J CONS-ONE HUNDRED FOURTH SER  5.20007/15/2021 106.500 / 106.567 126.450 / 126.45019.9505160
04/02/2003645913-AA-2NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER A  7.42502/15/2029 98.988 / 98.988 118.588 / 118.58819.6002760
05/06/2003081516-AD-8BEN HILL CNTY GA DEV AUTH HEALTHCARE FAC REV CHAMBER HEALTH CARE SOC INC-A  7.75008/01/2029 60.500 / 60.500 80.000 / 80.00019.500540
04/01/2003898526-BD-9TSASC INC N Y REV TOB FLEX AMORT-1 PLANPRIN 2012  6.00007/15/2018 80.678 / 80.678 100.000 / 100.00019.322355
04/01/200338122N-AQ-5GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A- 6.75006/01/2039 80.770 / 87.908 85.174 / 100.00019.2304518360
04/01/2003888808-AT-9TOBACCO SETTLEMENT FING CORP N J ASSET BKD  6.12506/01/2042 71.000 / 86.336 73.850 / 90.16119.161312875
04/07/200304109H-AQ-7ARKANSAS ST DEV FIN AUTH TOB SETTLEMENT REV BIOSCIENCES INSTITUTE COLLEGE  5.12512/01/2028 76.125 / 92.038 95.038 / 95.03818.9134160
04/01/200316876Q-BE-8CHILDRENS TR FD P R TOB SETTLEMENT REV ASSET-BKD BDS  5.37505/15/2033 70.812 / 89.179 74.743 / 89.71918.907169265
06/19/2003593211-AZ-8MIAMI BEACH FLA HEALTH FACS AUTH HOSP REV MT SINAI MED CTR FLA PROJ  5.37511/15/2028 74.520 / 84.500 83.149 / 93.39718.87727765
04/03/2003888806-AC-0TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B  6.37505/15/2028 81.446 / 91.650 84.878 / 100.00018.554214320
04/01/200388880P-AC-8TOBACCO SETTLEMENT FING CORP LA REV ASSET-BKD-SER B  5.87505/15/2039 69.000 / 86.000 75.099 / 87.50018.500271430
04/04/200316876Q-BG-3CHILDRENS TR FD P R TOB SETTLEMENT REV ASSET-BKD BDS  5.62505/15/2043 76.050 / 76.050 94.329 / 94.32918.27921590
05/22/2003717903-QD-3PHILADELPHIA PA HOSPS & HIGHER ED FACS AUTH HOSP REV PRESBYTERIAN MED CTR  6.50012/01/2011 102.860 / 102.860 120.860 / 121.11018.2505325
06/12/2003027720-AJ-0AMERICAN NATL FISH & WILDLIFE MUSEUM DIST MO MUSEUM REV  7.00009/01/2019 41.125 / 41.950 42.000 / 59.32518.2009240
04/01/2003888805-AG-3TOBACCO SETTLEMENT AUTH IOWA TOB SETTLEMENT REV ASSET-BKD-SER B  5.60006/01/2035 67.837 / 72.375 71.716 / 86.00018.163261075
04/04/2003888808-AR-3TOBACCO SETTLEMENT FING CORP N J ASSET BKD  5.75006/01/2032 68.722 / 85.552 78.415 / 86.74818.026342810
04/09/2003888806-AC-0TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B  6.37505/15/2028 79.517 / 82.982 81.517 / 97.50017.98323585
04/08/200338122N-AP-7GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A- 6.25006/01/2033 75.080 / 84.050 82.096 / 93.00017.9203912640
04/01/2003056559-AM-9BADGER TOB ASSET SECURITIZATION CORP WIS TOB SETTLEMENT REV ASSET-BKD  6.37506/01/2032 77.110 / 81.236 79.486 / 95.00017.890422705
06/04/2003605575-AA-7MISSISSIPPI ST  6.20002/01/2008 99.000 / 113.770 100.000 / 116.75517.7556170
06/20/2003649885-TR-1NEW YORK ST MTG AGY REV TAXABLE-FIFTEENTH SER  8.25010/01/2014 81.570 / 100.000 73.900 / 99.25017.68012390
05/12/2003717823-EA-2PHILADELPHIA PA GAS WKS REV  6.00003/15/2013 100.850 / 111.340 118.355 / 118.35517.5057105
04/08/2003040506-HJ-9ARIZONA HEALTH FACS AUTH HOSP SYS REV PHOENIX CHILDRENS HOSP-SER A  5.55011/15/2011 64.031 / 64.031 81.045 / 81.04517.014550
06/09/2003056559-AK-3BADGER TOB ASSET SECURITIZATION CORP WIS TOB SETTLEMENT REV ASSET-BKD  6.12506/01/2027 81.453 / 94.692 95.449 / 98.45417.001212555
04/04/200304109H-AR-5ARKANSAS ST DEV FIN AUTH TOB SETTLEMENT REV BIOSCIENCES INSTITUTE COLLEGE  5.25012/01/2041 80.600 / 80.600 97.500 / 97.50016.900490
04/29/2003888806-AC-0TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B  6.37505/15/2028 81.475 / 85.438 84.475 / 98.37516.90012170
06/03/2003043444-AG-3ASBURY IOWA ELDERLY CARE & RETIREMENT FAC REV STONEHILL PROJ  6.00009/01/2028 83.125 / 83.125 100.000 / 100.00016.8759680
04/01/2003056559-AJ-6BADGER TOB ASSET SECURITIZATION CORP WIS TOB SETTLEMENT REV ASSET-BKD  6.00006/01/2017 81.601 / 88.035 87.434 / 98.33916.73814745
04/25/2003796422-WN-9SAN ANTONIO TEX WTR REV PREREFUNDED-REF  6.00005/15/2016 100.210 / 100.210 116.833 / 116.83316.623425
04/02/2003898526-CV-8TSASC INC N Y REV TOB SETTLEMENT ASSET-BKD-SER 1  5.50007/15/2024 78.559 / 84.250 82.018 / 95.17816.619241360
05/27/200396253C-AZ-8WHATELY MASS REF-SER A  3.00001/15/2009 100.000 / 100.000 116.500 / 116.50016.5002200
04/28/2003888806-AC-0TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B  6.37505/15/2028 81.938 / 85.110 88.142 / 98.37516.4375175
05/19/2003649660-GK-7NEW YORK N Y SER A-FSA-CR  7.25003/15/2019 99.000 / 111.382 115.431 / 115.43116.4316210
06/16/2003056559-AK-3BADGER TOB ASSET SECURITIZATION CORP WIS TOB SETTLEMENT REV ASSET-BKD  6.12506/01/2027 81.838 / 93.522 96.649 / 98.25016.41218615









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 : msrb.org

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