Here is the list of yesterday's worst Municipal Bond spreads.

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 only 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.

All Information for Trade Date: 01/09/2008.

Worst Ten Spreads Between Lowest BID and Highest OFFER

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)
517080-AS-6	LARGO FLA SWR REV	7.125	10/01/2013	100.000 / 100.000	111.676 / 111.676	11.676	2	11
017343-CK-8	ALLEGHENY CNTY PA PORT AUTH SPL REV TRANSN	5.000	03/01/2029	96.000 / 96.000	106.063 / 106.063	10.063	8	485
73358T-QM-6	PORT AUTH N Y & N J CONS-ONE HUNDRED FORTY FIRST	4.500	09/01/2035	90.049 / 95.040	96.170 / 99.500	9.451	17	595
745266-BD-7	PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX SER A	4.500	07/01/2036	95.770 / 99.250	100.000 / 103.558	7.788	19	1515
64966G-RD-6	NEW YORK N Y PREREFUNDED-SER C	5.000	09/15/2028	102.861 / 102.861	110.268 / 110.268	7.407	3	45
874476-BF-0	TALLAHASSEE FLA ENERGY SYS REV REF-SER A	4.750	10/01/2026	96.000 / 96.000	103.150 / 103.150	7.150	5	215
13062P-Q6-2	CALIFORNIA ST VAR PURP	4.250	03/01/2030	94.250 / 94.250	95.569 / 100.837	6.587	4	530
59333P-EG-9	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.050	10/01/2036	97.490 / 97.490	100.000 / 104.067	6.577	8	110
888808-DF-6	TOBACCO SETTLEMENT FING CORP N J SR-SER 1A	5.000	06/01/2041	81.417 / 81.917	83.586 / 87.773	6.356	30	3650+1
646139-E2-7	NEW JERSEY ST TPK AUTH TPK REV UNREFUNDED BALANCE-2005-SER C	6.500	01/01/2016	109.265 / 109.265	115.500 / 115.500	6.235	5	85

Worst Ten Spreads Between Lowest and Highest BID

CUSIP	Municipal Bond Name / Description	Coupon	Maturity	Bid Side Customer Sold to Dealer (Lowest / Highest)	Spread	Offer Side Customer Purchase from Dealer (Lowest / Highest)	# of Trades	Volume (000)
793044-AC-2	ST PAUL MINN PORT AUTH PKG REV SR LIEN-4TH PKG RAMP PJ-SER 1	8.000	12/01/2027	82.700 / 93.000	10.300		4	160
362848-AM-5	GAINESVILLE FLA UTILS SYS REV	6.500	10/01/2014	100.000 / 109.900	9.900		5	102
442330-R9-9	HOUSTON TEX REF-PUB IMPT-SER A	5.000	03/01/2023	97.051 / 102.896	5.845		4	40
472682-JX-2	JEFFERSON CNTY ALA SWR REV CAP IMPT WTS	4.750	02/01/2038	99.000 / 104.074	5.074		3	35
73358T-QM-6	PORT AUTH N Y & N J CONS-ONE HUNDRED FORTY FIRST	4.500	09/01/2035	90.049 / 95.040	4.991	96.170 / 99.500	17	595
167592-WL-4	CHICAGO ILL O HARE INTL ARPT REV REF-GEN ARPT THIRD LIEN-SER A	5.375	01/01/2032	99.250 / 103.750	4.500	102.500 / 103.410	8	540
360053-DV-1	FULTON CNTY GA HOSP AUTH REV ANTIC CTFS-NORTHSIDE HOSP	7.875	10/01/2013	110.122 / 114.538	4.416	115.794 / 115.794	9	100
594614-UL-1	MICHIGAN ST BLDG AUTH REV REF-FACS PROG-SER I	5.250	10/15/2015	105.500 / 109.310	3.810	109.810 / 109.810	5	50
745266-BD-7	PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX SER A	4.500	07/01/2036	95.770 / 99.250	3.480	100.000 / 103.558	19	1515
759136-LL-6	REGIONAL TRANSN DIST COLO SALES TAX REV FASTRACKS PROJ-SER A	4.375	11/01/2031	94.700 / 97.917	3.217	100.000 / 100.000	6	135

Worst Ten Spreads Between Lowest and Highest OFFER

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)
13062P-Q6-2	CALIFORNIA ST VAR PURP	4.250	03/01/2030	94.250 / 94.250	95.569 / 100.837	5.268	4	530
012440-LF-8	ALBANY N Y INDL DEV AGY CIVIC FAC REV ST PETERS HOSP PROJ-SER A	5.250	11/15/2032	97.289 / 98.279	96.630 / 101.560	4.930	56	7580+2
574217-P6-6	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV LIFEBRIDGE HEALTH	4.750	07/01/2047	97.781 / 99.000	97.731 / 102.250	4.519	80	18295+6
64983X-L6-9	NEW YORK ST DORM AUTH REVS LENOX HILL HOSP OBLIG GROUP	5.500	07/01/2030		99.750 / 104.001	4.251	4	135
79575E-AS-7	SALT VERDE FINL CORP GAS REV ARIZ SR	5.000	12/01/2037		93.812 / 98.050	4.238	39	3605+1
888808-DF-6	TOBACCO SETTLEMENT FING CORP N J SR-SER 1A	5.000	06/01/2041	81.417 / 81.917	83.586 / 87.773	4.187	30	3650+1
59333P-EG-9	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.050	10/01/2036	97.490 / 97.490	100.000 / 104.067	4.067	8	110
955489-AE-9	WEST POINT VA INDL DEV AUTH SOLID WASTE DISP REV AMT-CHESAPEAKE CORP PJ-SER A	6.375	03/01/2019		95.000 / 99.000	4.000	5	85
44420P-AA-2	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A-MBIA	4.500	02/15/2047	96.540 / 96.540	97.405 / 101.375	3.970	70	7495
128043-BW-5	CALABASAS CALIF SPL TAX REF-CMNTY FACS DIST NO 01-1	6.250	09/01/2031		109.000 / 112.891	3.891	2	85

For the complete Red Flag list, please go here.

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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