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Worst Ten Offenders
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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: 01/22/2008.

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
Red Flag
# of
Trades
Volume
(000)
544389-J2-6LOS ANGELES CALIF CMNTY REDEV AGY TAX ALLOC-HOLLYWOOD REDEV PJ-C 5.00007/01/2022 99.825 / 99.825 112.753 / 112.75312.928230
751073-BW-6RALEIGH DURHAM N C ARPT AUTH ARPT REV SER A 5.00011/01/2021 97.200 / 104.670 100.000 / 107.67010.4708300
490236-BD-7KENT CNTY DEL STUDENT HSG REV REF-DEL ST UNIV PROJ-SER A 5.00007/01/2025 82.568 / 85.890 92.681 / 92.68110.1139180
73358T-XM-8PORT AUTH N Y & N J CONS-ONE HUNDRED FORTY-SIXTH 4.50012/01/2034 90.250 / 90.250 99.960 / 100.0009.7508125
73358T-QM-6PORT AUTH N Y & N J CONS-ONE HUNDRED FORTY FIRST 4.50009/01/2035 91.376 / 92.170 96.170 / 100.0008.6249695
867686-MM-6SUNRISE FLA UTIL SYS REV REF 5.00010/01/2028 99.000 / 106.895 106.904 / 106.9047.904425+3
084219-FF-6BERKELEY CNTY S C WTR & SWR REV UNREFUNDED BALANCE-SYS 5.00006/01/2028 98.000 / 98.000 101.500 / 105.7587.758340
898526-CZ-9TSASC INC N Y REV SER 1 5.00006/01/2034 93.529 / 93.529 101.000 / 101.0007.4713160
130923-BF-1CALIFORNIA STATEWIDE FING AUTH TOBACCO SETTLEMENT ASSET BKD-POOLED TOBACCO SEC-A 5.62505/01/2029 93.350 / 93.350 100.771 / 100.7717.421350
605277-AB-8MISSISSIPPI BUSINESS FIN CORP MISS POLLUTN CTL REV SYS ENERGY RES INC PJ 5.87504/01/2022 93.500 / 100.100 100.900 / 100.9007.40081220

Worst Ten Spreads Between Lowest and Highest BID

CUSIP Municipal Bond Name / Description Coupon Maturity Bid Side
Customer Sold
to Dealer
(Lowest / Highest)
Spread
Red Flag
Offer Side
Customer Purchase
from Dealer
(Lowest / Highest)
# of
Trades
Volume
(000)
01728A-MJ-2ALLEGHENY CNTY PA HOSP DEV AUTH REV HOSP-PITTSBURGH MERCY HLTH SYS 5.62508/15/2026 99.456 / 108.1988.742  355
821697-GQ-6SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD REV LE BONHUER CHILDRENS MED CTR-D 5.50008/15/2019 105.480 / 113.6408.160  285
867686-MM-6SUNRISE FLA UTIL SYS REV REF 5.00010/01/2028 99.000 / 106.8957.895 106.904 / 106.904425+3
751073-BW-6RALEIGH DURHAM N C ARPT AUTH ARPT REV SER A 5.00011/01/2021 97.200 / 104.6707.470 100.000 / 107.6708300
605277-AB-8MISSISSIPPI BUSINESS FIN CORP MISS POLLUTN CTL REV SYS ENERGY RES INC PJ 5.87504/01/2022 93.500 / 100.1006.600 100.900 / 100.90081220
64579E-L5-3NEW JERSEY HEALTH CARE FACS FING AUTH REV HACKENSACK UNIV MED CTR 6.00001/01/2025 99.000 / 104.6825.682 105.086 / 105.086345
645916-UA-3NEW JERSEY ECONOMIC DEV AUTH REV MOTOR VEHICLE COMMN-SER A 0.00007/01/2013 78.100 / 83.2855.185  5170
544495-AL-8LOS ANGELES CALIF DEPT WTR & PWR REV PWR SYS-SER A 4.00007/01/2009 96.891 / 101.8995.008  255
79765A-SH-0SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV SECOND SER-ISSUE 26B 5.00005/01/2030 96.500 / 101.2574.757  450
870462-NH-7SWEETWATER CALIF UN HIGH SCH DIST ELECTION OF 2000-SER B 4.25008/01/2026 92.801 / 97.2504.449 94.801 / 94.8015655

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
Red Flag
# of
Trades
Volume
(000)
751073-BW-6RALEIGH DURHAM N C ARPT AUTH ARPT REV SER A 5.00011/01/2021 97.200 / 104.670 100.000 / 107.6707.6708300
745266-BD-7PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX SER A 4.50007/01/2036 97.040 / 97.597 94.425 / 101.0406.61512530
681793-S5-5OMAHA PUB PWR DIST NEB ELEC REV SER A 4.15002/01/2018   99.000 / 103.7664.766250
084219-FF-6BERKELEY CNTY S C WTR & SWR REV UNREFUNDED BALANCE-SYS 5.00006/01/2028 98.000 / 98.000 101.500 / 105.7584.258340
657617-BC-9NORTH BEND WASH  5.10012/01/2026   101.592 / 105.7234.1313500
650035-GL-6NEW YORK ST URBAN DEV CORP REV ST PERS INCOME TAX-SER C 4.50003/15/2037   99.192 / 103.3054.11371620
78169P-AT-4RURAL ENTERPRISES OKLA INC STUDENT HSG REV CDF STUDENT HSG LLC-SER A 5.65011/01/2031 96.500 / 96.650 96.000 / 100.0004.0008715
85732P-BP-4STATE PUB SCH BLDG AUTH PA REV LEHIGH CAREER & TECH INST 4.25010/01/2032 94.010 / 94.010 96.010 / 100.0003.990370
199561-FQ-9COLUMBUS OHIO SWR REV SYS-SER A 4.25006/01/2030 98.250 / 98.250 96.769 / 100.7503.981616810
576000-FG-3MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV SER A 4.50008/15/2035   100.000 / 103.8393.83971585

For the complete Flag 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.

Data provided by : msrb.org

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