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: 02/27/2008.

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)
084509-KN-7	BERKS CNTY PA VAR		11/01/2023	25.000 / 25.000	100.000 / 100.000	75.000	5	1950
104763-GF-8	BRADY TEX INDPT SCH DIST SCH BLDG	5.000	08/15/2037	97.735 / 97.735	98.746 / 110.000	12.265	136	12605+4
427290-LJ-8	HERKIMER CNTY N Y PUB IMPT	4.500	07/15/2026	88.530 / 88.530	100.000 / 100.000	11.470	4	55
735000-DU-2	PORT OAKLAND CALIF REV AMT-SER L	5.000	11/01/2032	88.132 / 90.778	99.376 / 99.376	11.244	8	115
523530-GH-0	LEE CNTY FLA WTR & SWR REV SER A	5.000	10/01/2029	89.792 / 89.792	100.000 / 100.000	10.208	4	20
13062R-4D-7	CALIFORNIA ST VAR PURP-FSA-CR	4.500	03/01/2033	88.450 / 88.450	98.654 / 98.654	10.204	2	30
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	89.500 / 93.825	96.670 / 99.425	9.925	9	475
25457V-AA-4	DIRECTOR ST NEV DEPT BUSINESS & INDUSTRY LAS VEGAS MONORAIL PJ-1ST TIER	5.625	01/01/2032	86.749 / 86.749	95.474 / 96.183	9.434	12	170+1
574217-B9-5	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV KING FARM PRESBYTERIAN CMNTY-A	5.250	01/01/2027	83.435 / 83.435	83.668 / 92.660	9.225	5	1010+3
837227-ZU-4	SOUTH CENT CONN REGL WTR AUTH WTR SYS REV TWENTY-SECOND SER	4.500	08/01/2038	91.205 / 91.205	92.223 / 100.000	8.795	11	460

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)
73358T-QM-6	PORT AUTH N Y & N J CONS-ONE HUNDRED FORTY FIRST	4.500	09/01/2035	85.000 / 91.000	6.000	87.200 / 93.558	7	315
651663-AV-8	NEWNAN GA HOSP AUTH REV REV ANTIC CTFS-NEWNAN HOSP INC	4.625	01/01/2023	93.702 / 99.390	5.688		3	210
118713-AC-0	BUCKSPORT ME SOLID WASTE DISP REV REF-INTERNATIONAL PAPER-SER A	4.000	03/01/2014	94.880 / 100.317	5.437	94.880 / 100.430	12	1020
577635-AH-8	MAURY CNTY TENN INDL DEV BRD POLLUTN CTL REV MULTI-MODAL-REF-SATURN CORP PJ	6.500	09/01/2024	90.000 / 95.000	5.000	98.250 / 98.250	5	95
013538-GM-9	ALBUQUERQUE N MEX ARPT REV AMT-REF	4.750	07/01/2016	91.920 / 96.907	4.987	97.000 / 97.000	6	45
153153-DT-5	CENTRAL COAST WTR AUTH CALIF REV REF-ST WTR PROJ REGL FACS-A	5.000	10/01/2018	99.522 / 104.500	4.978	105.000 / 105.000	4	60
646135-3R-2	NEW JERSEY ST TRANSN TR FD AUTH TRANSN SYS-SER B	5.250	12/15/2014	104.120 / 108.904	4.784	107.972 / 108.468	9	2180
821697-UK-3	SHELBY CNTY TENN HEALTH EDL & HSG FACS BRD REV ST JUDES CHILDRENS RESEARCH	5.375	07/01/2029	100.500 / 105.000	4.500	105.000 / 105.256	4	1050
709221-CF-0	PENNSYLVANIA ST TPK COMMN OIL FRANCHISE TAX REV SR-SER A	4.750	12/01/2027	94.919 / 99.268	4.349	100.000 / 100.000	3	230
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	89.500 / 93.825	4.325	96.670 / 99.425	9	475

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)
604129-AD-8	MINNESOTA ST	5.000	10/01/2009		2.100 / 104.475	102.375	12	1445
104763-GF-8	BRADY TEX INDPT SCH DIST SCH BLDG	5.000	08/15/2037	97.735 / 97.735	98.746 / 110.000	11.254	136	12605+4
235035-AM-4	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	6.375	05/01/2035		83.517 / 93.500	9.983	2	475
574217-B9-5	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV KING FARM PRESBYTERIAN CMNTY-A	5.250	01/01/2027	83.435 / 83.435	83.668 / 92.660	8.992	5	1010+3
837227-ZU-4	SOUTH CENT CONN REGL WTR AUTH WTR SYS REV TWENTY-SECOND SER	4.500	08/01/2038	91.205 / 91.205	92.223 / 100.000	7.777	11	460
650009-TH-6	NEW YORK ST TWY AUTH GEN REV SER H	5.000	01/01/2019	107.200 / 107.200	100.930 / 108.461	7.531	7	395
745268-K7-6	PUERTO RICO ELEC PWR AUTH PWR REV REF-SER EE-MBIA IBC	4.750	07/01/2024		94.675 / 102.000	7.325	6	125
97710V-MM-7	WISCONSIN ST HEALTH & EDL FACS AUTH REV WHEATON FRANCISCAN SVCS-A	5.125	08/15/2033		88.000 / 95.000	7.000	12	340
54659L-AC-8	LOUISVILLE & JEFFERSON CNTY KY METRO GOVT HEALTH SYS REV NORTON HEALTHCARE INC	5.250	10/01/2036	92.362 / 92.362	93.020 / 100.000	6.980	27	2065+3
64578C-AG-6	NEW JERSEY ECONOMIC DEV AUTH SPL FAC REV CONTINENTAL AIRLINES INC PJ	6.400	09/15/2023	93.300 / 93.300	92.150 / 99.000	6.850	6	90

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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