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: 01/14/2008.

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)
349250-MA-5	FORT WAYNE IND HOSP AUTH HOSP REV UNREFUNDED BAL-PARKVIEW HLTH	4.750	11/15/2028	91.500 / 91.500	100.050 / 100.050	8.550	3	15
091104-GG-8	BIRMINGHAM BAPTIST MED CTR ALA SPL CARE FACS FING AUTH REV BAPTIST HEALTH SYS INC-SER A	5.000	11/15/2030	90.016 / 92.220	94.860 / 96.690	6.674	7	130
59333P-HR-2	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL AIRPORT-HUB-A	4.750	10/01/2036	93.163 / 98.500	98.373 / 99.764	6.601	14	505
13078R-AV-2	CALIFORNIA STATEWIDE CMNTYS DEV AUTH STUDENT HSG REV STONEHAVEN APTS PROJ-SER A	5.625	07/01/2026	93.500 / 93.500	99.500 / 100.000	6.500	6	150
592650-MQ-5	METROPOLITAN WASHINGTON D C ARPTS AUTH GEN ARPT REV AMT-REF-SER B	5.000	10/01/2028	94.500 / 98.870	100.870 / 100.870	6.370	5	35
576000-FG-3	MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV SER A	4.500	08/15/2035	97.500 / 97.500	100.147 / 103.500	6.000	16	365
44420P-AA-2	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A-MBIA	4.500	02/15/2047	95.830 / 97.750	99.250 / 101.750	5.920	36	2285
64972F-HY-5	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER A	4.250	06/15/2039	94.513 / 95.250	98.380 / 100.250	5.737	10	535
123550-FD-2	BUTLER CNTY OHIO HOSP FACS REV CINCINNATI CHILDRENS-SER K	4.250	05/15/2030	94.375 / 94.375	97.875 / 100.000	5.625	7	90
628076-GX-3	MUSKINGUM CNTY OHIO REF-CAP FACS	4.625	12/01/2030	99.000 / 99.000	104.569 / 104.569	5.569	5	1000

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)
59333P-HR-2	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL AIRPORT-HUB-A	4.750	10/01/2036	93.163 / 98.500	5.337	98.373 / 99.764	14	505
724506-BS-8	PITT CNTY N C REV PITT CNTY MEM HOSP	5.500	12/01/2015	101.000 / 105.541	4.541		7	95
64970K-SV-0	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER G	5.000	06/15/2034	97.754 / 102.178	4.424	103.155 / 103.155	8	100
592650-MQ-5	METROPOLITAN WASHINGTON D C ARPTS AUTH GEN ARPT REV AMT-REF-SER B	5.000	10/01/2028	94.500 / 98.870	4.370	100.870 / 100.870	5	35
454798-JV-2	INDIANA HEALTH FAC FING AUTH REV UNREFUNDED BALANCE-ANCILLA SYS	5.250	07/01/2022	95.000 / 99.287	4.287		4	25
59333P-BS-6	MIAMI-DADE CNTY FLA AVIATION REV AMT-SER C	5.000	10/01/2023	95.500 / 99.693	4.193		3	15
59259R-RF-3	METROPOLITAN TRANSN AUTH N Y REV SER B	5.250	11/15/2032	107.205 / 111.378	4.173	111.665 / 111.665	9	500
67910H-KW-9	OKLAHOMA ST MUN PWR AUTH PWR SUPPLY SYS REV SER A	4.750	01/01/2037	99.310 / 103.481	4.171	102.810 / 102.810	5	650
649706-JA-7	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER B	5.750	06/15/2013	99.465 / 103.522	4.057	105.000 / 105.000	6	190
592650-MN-2	METROPOLITAN WASHINGTON D C ARPTS AUTH GEN ARPT REV AMT-REF-SER B	5.000	10/01/2018	97.400 / 101.400	4.000	101.460 / 102.188	7	1000

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)
65818P-FG-9	NORTH CAROLINA CAP FACS FIN AGY EDL FACS REV REF-BREVARD COLLEGE CORP	4.500	10/01/2026		89.500 / 95.000	5.500	2	30
40065B-CC-5	GUAM GOVT SER A	5.250	11/15/2037	93.709 / 95.362	94.255 / 98.510	4.255	12	730+5
64966G-GK-2	NEW YORK N Y SER C-FSA-CR	4.250	01/01/2027		97.750 / 101.847	4.097	4	65
130479-FF-0	CALIFORNIA MOBILEHOME PK FING AUTH REV REF-UNION CITY TROPICS-SER A	5.000	12/15/2041		88.186 / 92.200	4.014	11	470+1
40065B-CB-7	GUAM GOVT SER A	5.125	11/15/2027	95.036 / 96.012	95.499 / 99.375	3.876	17	2510+5
118217-AR-9	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	5.750	06/01/2034	95.304 / 98.500	95.682 / 99.500	3.818	12	130+4
499422-DL-4	KNOX CNTY KY REF-TAXABLE-KNOX CNTY HOSP PJ	5.875	12/01/2036		87.942 / 91.611	3.669	8	3250
59259R-WW-0	METROPOLITAN TRANSN AUTH N Y REV SER B	5.000	11/15/2031		103.262 / 106.929	3.667	10	555
542690-E2-4	LONG ISLAND PWR AUTH N Y ELEC SYS REV GEN-SER F	4.250	05/01/2033		96.625 / 100.278	3.653	10	695
733581-V7-4	PORT AUTH N Y & N J CONS-126TH SER	5.250	05/15/2037		102.690 / 106.237	3.547	4	80

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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