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: 02/06/2008.

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)
870487-CC-7	SWEETWATER CNTY WYO POLLUTION CTL REV VAR-REF-IDAHO PWR CO PROJ		07/15/2026	10.000 / 100.000	100.000 / 100.000	90.000	35	5350+1
59465E-2S-1	MICHIGAN ST HOSP FIN AUTH REV DETROIT MED CTR-OB-A-ACA-CBI	5.250	08/15/2028	82.462 / 82.462	86.960 / 96.966	14.504	9	365
25457V-AA-4	DIRECTOR ST NEV DEPT BUSINESS & INDUSTRY LAS VEGAS MONORAIL PJ-1ST TIER	5.625	01/01/2032	86.500 / 86.500	88.900 / 97.909	11.409	11	275
254839-G8-0	DISTRICT COLUMBIA REV FRIENDSHIP PUB CHARTER SCH INC	5.250	06/01/2033	88.385 / 88.385	98.700 / 98.700	10.315	7	190
542690-E2-4	LONG ISLAND PWR AUTH N Y ELEC SYS REV GEN-SER F	4.250	05/01/2033	90.500 / 95.125	93.500 / 99.229	8.729	21	1495
899124-FE-6	TULARE CALIF SWR REV	4.200	11/15/2017	95.939 / 95.939	103.691 / 103.691	7.752	5	110
73358T-QM-6	PORT AUTH N Y & N J CONS-ONE HUNDRED FORTY FIRST	4.500	09/01/2035	91.021 / 91.021	96.000 / 98.675	7.654	6	225
076099-AT-7	BEDFORD CNTY VA INDL DEV AUTH INDL DEV REV REF-NEKOOSA PACKAGING CORP PJ	5.600	12/01/2025	82.850 / 82.850	90.500 / 90.500	7.650	5	80
167592-UY-8	CHICAGO ILL O HARE INTL ARPT REV AMT-2ND LIEN PASSENGER FAC-C	5.100	01/01/2026	93.919 / 96.220	101.220 / 101.220	7.301	8	110
181004-CZ-3	CLARK CNTY NEV INDL DEV REV REF-SOUTHWEST GAS CORP PROJ-B	5.000	12/01/2033	92.000 / 95.018	98.566 / 99.160	7.160	8	145

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)
870487-CC-7	SWEETWATER CNTY WYO POLLUTION CTL REV VAR-REF-IDAHO PWR CO PROJ		07/15/2026	10.000 / 100.000	90.000	100.000 / 100.000	35	5350+1
010869-CD-5	ALAMEDA CORRIDOR TRANSN AUTH CALIF REV TAXABLE-SR LIEN-SER C	6.600	10/01/2029	86.189 / 102.000	15.811		4	30+1
235036-FX-3	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-FSA	5.000	11/01/2032	93.260 / 98.130	4.870	100.130 / 100.130	6	65
733581-6F-4	PORT AUTH N Y & N J CONS-131ST SER	4.750	06/15/2033	92.131 / 97.000	4.869		3	50
74265L-FQ-6	PRIVATE COLLEGES & UNIVS AUTH GA REV REF-MERCER UNIV PROJ-SER A	5.250	10/01/2025	93.750 / 98.600	4.850	97.250 / 97.250	3	60
542690-E2-4	LONG ISLAND PWR AUTH N Y ELEC SYS REV GEN-SER F	4.250	05/01/2033	90.500 / 95.125	4.625	93.500 / 99.229	21	1495
38122N-AP-7	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.250	06/01/2033	106.510 / 110.875	4.365	111.375 / 111.875	5	925
45528S-MD-5	INDIANAPOLIS IND LOC PUB IMPT BD BK PREREFUNDED-WTRWKS PJ-A	5.125	07/01/2027	106.446 / 110.576	4.130		3	30+1
13062T-2W-3	CALIFORNIA ST PREREFUNDED	5.000	11/01/2030	104.000 / 108.114	4.114		2	55
64970K-JJ-7	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER B	5.000	06/15/2029	98.719 / 102.719	4.000		2	215

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)
59465E-2S-1	MICHIGAN ST HOSP FIN AUTH REV DETROIT MED CTR-OB-A-ACA-CBI	5.250	08/15/2028	82.462 / 82.462	86.960 / 96.966	10.006	9	365
25457V-AA-4	DIRECTOR ST NEV DEPT BUSINESS & INDUSTRY LAS VEGAS MONORAIL PJ-1ST TIER	5.625	01/01/2032	86.500 / 86.500	88.900 / 97.909	9.009	11	275
684545-JK-3	ORANGE CNTY FLA TOURIST DEV TAX REV UNREFUNDED BALANCE	6.000	10/01/2016		100.273 / 109.269	8.996	2	70
542690-E2-4	LONG ISLAND PWR AUTH N Y ELEC SYS REV GEN-SER F	4.250	05/01/2033	90.500 / 95.125	93.500 / 99.229	5.729	21	1495
677525-RE-9	OHIO ST AIR QUALITY DEV AUTH REV COLL-DAYTON PWR & LT CO PROJ	4.800	09/01/2036	92.820 / 92.820	92.681 / 98.260	5.579	20	565+3
646136-EQ-0	NEW JERSEY ST TRANSN TR FD AUTH CAP APPREC-TRANSN SYS-SER C	0.000	12/15/2027	36.754 / 40.363	36.754 / 41.667	4.913	11	2000+6
545149-FX-9	LOS ANGELES CNTY CALIF SANTN DISTS FING AUTH REV CAP PROJS-DIST NO 20 SUB-SER A	4.500	10/01/2038	94.898 / 97.000	95.205 / 99.995	4.790	72	8335+1
082383-LA-6	BENSALEM TWP PA SCH DIST	4.500	06/15/2028		98.163 / 102.294	4.131	10	850+1
59259R-S5-4	METROPOLITAN TRANSN AUTH N Y REV TRANSN-SER B	4.750	11/15/2031		99.400 / 103.500	4.100	108	9480
54474C-AK-3	LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000	06/30/2008	97.960 / 98.000	98.500 / 102.563	4.063	10	515

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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