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: 02/08/2008.

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)
72177N-AL-9	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV SER C	6.000	06/01/2017	73.636 / 73.636	87.000 / 87.000	13.364	4	0.176
72177N-AG-0	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV CAP APPREC-SER A	0.000	06/01/2008	51.385 / 51.385	63.000 / 63.000	11.615	4	0.208
898526-DA-3	TSASC INC N Y REV SER 1	5.125	06/01/2042	91.005 / 95.475	100.000 / 100.000	8.995	4	215
139404-BF-3	CAPE GIRARDEAU CNTY MO INDL DEV AUTH HEALTH CARE FACS REV PREREFUNDED-SOUTHEAST MO HOSP	5.250	06/01/2016	101.000 / 101.000	103.500 / 109.766	8.766	3	55
25457V-AA-4	DIRECTOR ST NEV DEPT BUSINESS & INDUSTRY LAS VEGAS MONORAIL PJ-1ST TIER	5.625	01/01/2032	90.000 / 92.000	92.000 / 97.408	7.408	13	430
72177N-AH-8	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV CAP APPREC-SER A	0.000	06/01/2009	56.949 / 56.949	64.000 / 64.000	7.051	4	0.396
24916P-EE-3	DENVER COLO CITY & CNTY BRD WTR COMMRS WTR REV SER A	4.375	12/15/2037	94.308 / 94.308	97.308 / 101.250	6.942	8	315
38122N-PA-4	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SR-SER A-1	5.750	06/01/2047	93.727 / 96.250	96.231 / 100.050	6.323	12	305+1
92706N-CQ-4	VILLAGE CTR CMNTY DEV DIST FLA RECREATIONAL REV SER A	5.000	11/01/2032	98.016 / 98.016	104.336 / 104.336	6.320	2	15
64711M-ZR-1	NEW MEXICO FIN AUTH REV PUB PROJ REVOLVING FD-SER C	5.000	06/01/2022	102.780 / 102.780	108.875 / 108.875	6.095	3	70

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)
64966G-EF-5	NEW YORK N Y PREREFUNDED-SER J	5.500	06/01/2020	107.368 / 112.349	4.981		2	20
898526-DA-3	TSASC INC N Y REV SER 1	5.125	06/01/2042	91.005 / 95.475	4.470	100.000 / 100.000	4	215
738800-GV-7	POWAY CALIF REDEV AGY TAX ALLOCATION PAGUAY REDEV PROJ	5.000	12/15/2022	99.650 / 103.500	3.850		3	90
817393-CA-7	SEQUOIA CALIF HOSP DIST REV	5.375	08/15/2023	99.500 / 103.250	3.750	100.000 / 100.000	5	135
13062R-SG-4	CALIFORNIA ST REF-FSA-CR	5.000	08/01/2018	105.000 / 108.229	3.229		6	90
155048-BB-6	CENTRAL PUGET SOUND WASH REGL TRAN AUTH SALES TAX & MOTOR	4.750	02/01/2028	96.040 / 99.250	3.210	99.500 / 101.430	5	95
745190-K2-3	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV PREREFUNDED-SER G	5.000	07/01/2042	107.750 / 110.934	3.184		9	425
89602N-HB-3	TRIBOROUGH BRDG & TUNL AUTH N Y REVS PREREFUND-GEN PURP-A-MBIA IBC	5.000	01/01/2032	106.000 / 109.100	3.100	107.587 / 109.200	6	280
052455-CJ-9	AUSTIN TEX REV REF-SUB LIEN-SER A	4.250	05/15/2028	91.639 / 94.725	3.086	94.155 / 94.165	10	305
64579F-PJ-6	NEW JERSEY HEALTH CARE FACS FING AUTH REV UNREFUNDED BAL-ST BARNABAS-B	4.750	07/01/2028	95.000 / 98.000	3.000	100.000 / 100.000	4	90

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)
196617-EF-7	COLORADO SPRINGS COLO HOSP REV STARS		12/15/2032	99.950 / 100.000	50.000 / 100.000	50.000	5	850
425208-RP-2	HENDERSON NEV LOC IMPT DISTS NO T-18	5.300	09/01/2035		74.375 / 98.571	24.196	4	540
645905-Y8-7	NEW JERSEY ECONOMIC DEV AUTH REV LEISURE PARK PROJ-SER A	5.875	12/01/2027		94.530 / 102.300	7.770	2	30
139404-BF-3	CAPE GIRARDEAU CNTY MO INDL DEV AUTH HEALTH CARE FACS REV PREREFUNDED-SOUTHEAST MO HOSP	5.250	06/01/2016	101.000 / 101.000	103.500 / 109.766	6.266	3	55
13063A-UU-6	CALIFORNIA ST VAR PURP	5.000	12/01/2026		99.750 / 105.625	5.875	11	555+1
574217-LL-7	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV JOHNS HOPKINS HOSPITAL ISSUE	5.125	11/15/2034	109.000 / 109.000	108.399 / 113.986	5.587	8	255
25457V-AA-4	DIRECTOR ST NEV DEPT BUSINESS & INDUSTRY LAS VEGAS MONORAIL PJ-1ST TIER	5.625	01/01/2032	90.000 / 92.000	92.000 / 97.408	5.408	13	430
249174-FY-4	DENVER COLO CITY & CNTY SCH DIST NO 1	4.500	12/01/2028	99.600 / 99.600	99.875 / 104.685	4.810	8	190
38122N-HS-4	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ENHANCED-ASSET BKD-A-FGIC TCRS	5.000	06/01/2045		98.495 / 102.992	4.497	2	10+1
074876-GD-9	BEAVER CNTY PA INDL DEV AUTH POLLUTN CTL REV REF-DUQUESNE-D-CONV 01/03/07	4.500	11/01/2029		97.142 / 101.100	3.958	94	3885

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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