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: 01/11/2008.

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)
161385-BT-5	CHARTIERS VALLEY PA INDL & COML DEV AUTH FIRST MTG REV OPT-UNITED METHODIST CTR-SER B	5.500	12/01/2015	92.100 / 92.100	100.000 / 100.000	7.900	4	8
245913-EB-0	DELAWARE CNTY PA AUTH REV HEALTH FACS-MERCY HEALTH CORP	6.000	12/15/2026	106.250 / 106.250	113.710 / 114.075	7.825	12	1070+1
67756A-YX-4	OHIO ST HIGHER EDL FAC COMMN REV HOSP-UNIV HOSPS HLTH SYS INC-A	4.750	01/15/2036	93.550 / 93.550	101.094 / 101.094	7.544	5	220
888808-DE-9	TOBACCO SETTLEMENT FING CORP N J SR-SER 1A	4.750	06/01/2034	77.390 / 77.390	84.707 / 84.707	7.317	2	95
041431-CU-9	ARLINGTON CNTY VA PUB IMPT	4.250	03/15/2026	97.132 / 97.132	99.620 / 104.000	6.868	5	570
917565-DL-4	UTAH TRAN AUTH SALES TAX REV SER B	4.500	06/15/2033	104.107 / 104.107	107.988 / 110.876	6.769	6	495
167592-A6-1	CHICAGO ILL O HARE INTL ARPT REV REF-GEN ARPT-THIRD LIEN-SER E	5.000	01/01/2034	97.250 / 101.120	103.909 / 103.909	6.659	3	35
64972F-HY-5	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER A	4.250	06/15/2039	93.500 / 93.500	98.292 / 100.124	6.624	9	120
914023-DT-0	UNIVERSITY AKRON OHIO GEN RCPTS SER A	4.250	01/01/2033	93.527 / 96.230	98.350 / 100.000	6.473	17	490
821697-SB-6	SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD REV EXTRAS-HLTH CARE FAC-KIRBY-B	5.550	11/15/2027	94.150 / 94.150	100.000 / 100.000	5.850	4	20

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)
919676-AE-6	VALLEY HEALTH SYS CALIF HOSP REV REF & IMPT PROJ-SER A	6.500	05/15/2015	50.667 / 61.750	11.083	52.000 / 52.000	7	135
875397-BY-6	TANEY CNTY MO REORG SCH DIST NO R-V REF & IMPT-MO DIRECT DEP PG	4.500	03/01/2023	95.900 / 101.690	5.790		2	15
373271-AA-3	GEORGIA LOC GOVT CTFS PARTN GRANTOR TR-SER A	4.750	06/01/2028	94.125 / 99.199	5.074		6	60
011842-GM-7	ALASKA ST INTL ARPTS REVS AMT-SER A	5.000	10/01/2024	94.676 / 99.670	4.994		3	15
605343-R9-5	MISSISSIPPI DEV BK SPL OBLIG CAP PROJS & EQUIP PROG-SER A	5.000	07/01/2031	102.060 / 106.520	4.460	104.964 / 104.964	5	225
54640A-6S-4	LOUISIANA PUB FACS AUTH REV TULANE UNIV-SER A	5.000	07/01/2032	103.570 / 107.875	4.305		2	375
64966F-4N-1	NEW YORK N Y PREREFUNDED-FISCAL 2003-I	5.375	03/01/2027	104.482 / 108.703	4.221	109.978 / 109.978	3	45
888808-AT-9	TOBACCO SETTLEMENT FING CORP N J ASSET BKD	6.125	06/01/2042	108.000 / 112.198	4.198	110.558 / 111.900	11	450
13062T-YX-6	CALIFORNIA ST VAR PURP	4.250	12/01/2029	94.700 / 98.781	4.081	96.000 / 99.125	53	21400+2
167592-A6-1	CHICAGO ILL O HARE INTL ARPT REV REF-GEN ARPT-THIRD LIEN-SER E	5.000	01/01/2034	97.250 / 101.120	3.870	103.909 / 103.909	3	35

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)
67756B-LW-8	OHIO ST HIGHER EDL FAC REV VAR-CASE WESTERN RESERVE-B-4		12/01/2034		10.000 / 100.000	90.000	4	750
95662M-XF-2	WEST VIRGINIA ST HSG DEV FD HSG FIN-SER A	4.500	11/01/2037	96.750 / 96.750	90.146 / 100.000	9.854	3	25
57586C-XH-3	MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV MILFORD REGL MED CTR-SER E	5.000	07/15/2032		90.574 / 97.925	7.351	5	1250
649892-KN-5	NEW YORK ST PWR AUTH REV & GEN PURP	7.500	01/01/2010		99.750 / 106.084	6.334	2	70
45200P-RA-7	ILLINOIS HEALTH FACS AUTH REV LOYOLA UNIV HEALTH SYS-SER A	6.125	07/01/2031	105.969 / 105.969	105.969 / 110.537	4.568	3	95
79575E-AR-9	SALT VERDE FINL CORP GAS REV ARIZ SR	5.000	12/01/2032	95.343 / 95.343	95.475 / 100.000	4.525	22	690+3
041431-CU-9	ARLINGTON CNTY VA PUB IMPT	4.250	03/15/2026	97.132 / 97.132	99.620 / 104.000	4.380	5	570
13062P-KE-1	CALIFORNIA ST	4.200	11/01/2013		100.550 / 104.680	4.130	2	10
296335-HT-2	ESCONDIDO CALIF ELECTION 2004-SER A	4.500	09/01/2029		98.358 / 102.381	4.023	3	115
13062T-5Q-3	CALIFORNIA ST REF-AMBAC TCRS-BNY	4.500	08/01/2027	100.130 / 100.130	99.859 / 103.762	3.903	17	1465

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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