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: 03/06/2008.

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)
93974A-TX-2	WASHINGTON ST CAP APPREC-MOTOR VEHICLE-SER F	0.000	12/01/2018	60.505 / 60.505	61.020 / 90.258	29.753	43	13230+3
88256C-AR-0	TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV SR LIEN-SER A	5.250	12/15/2024	85.000 / 85.000	102.235 / 102.235	17.235	4	50
542690-TW-2	LONG ISLAND PWR AUTH N Y ELEC SYS REV GEN-SER B	5.250	06/01/2013	93.000 / 93.000	107.864 / 107.874	14.874	7	54
472628-PM-2	JEFFERSON CNTY ALA CAP IMPT & REF WTS-SER A	5.000	04/01/2023	86.475 / 91.000	101.000 / 101.000	14.525	7	155
442348-ZY-7	HOUSTON TEX ARPT SYS REV AMT-SUB LIEN-SER B	5.000	07/01/2025	85.840 / 92.030	95.530 / 98.473	12.633	9	290
106214-FR-5	BRAZOS RIVER AUTH TEX REV REF-COLL-CENTERPOINT ENERGY-B	4.250	12/01/2017	90.054 / 98.833	100.185 / 101.308	11.254	9	215
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	81.875 / 85.161	85.911 / 92.625	10.750	51	1490+3
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	87.840 / 94.089	97.289 / 97.739	9.899	9	220
472682-NW-9	JEFFERSON CNTY ALA SWR REV UNREFUNDED BAL-REF-WTS-SER A	5.625	02/01/2018	89.484 / 91.559	92.309 / 99.300	9.816	8	90
45528S-RD-0	INDIANAPOLIS IND LOC PUB IMPT BD BK INDIANAPOLIS AIRPORT AUTH-F	4.700	01/01/2037	83.830 / 83.830	92.721 / 93.630	9.800	5	65

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)
68607D-EP-6	OREGON ST DEPT TRANSN HWY USER TAX REV REF-SER B	5.250	11/15/2016	93.187 / 107.065	13.878		5	26
64983T-XV-0	NEW YORK ST DORM AUTH REVS UPSTATE CMNTY COLLEGES-SER B	5.250	07/01/2016	96.930 / 107.900	10.970		5	362
106214-DS-5	BRAZOS RIVER AUTH TEX REV HOUSTON INDS INC PROJ-C	5.125	05/01/2019	87.880 / 97.690	9.810		6	165
452226-SN-4	ILLINOIS ST SALES TAX REV REF-SER Q	6.000	06/15/2012	99.247 / 108.850	9.603	104.747 / 109.000	7	10+2
106214-FR-5	BRAZOS RIVER AUTH TEX REV REF-COLL-CENTERPOINT ENERGY-B	4.250	12/01/2017	90.054 / 98.833	8.779	100.185 / 101.308	9	215
472682-MC-4	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.625	02/01/2022	82.260 / 89.621	7.361	90.000 / 90.371	14	565
93974A-4H-4	WASHINGTON ST CAP APPREC-MOTOR VEHICLE-05-C	0.000	06/01/2011	82.880 / 89.327	6.447		3	50
64966F-4F-8	NEW YORK N Y PREREFUNDED-F	5.300	01/15/2026	102.760 / 109.162	6.402	110.147 / 110.373	8	340
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	87.840 / 94.089	6.249	97.289 / 97.739	9	220
442348-ZY-7	HOUSTON TEX ARPT SYS REV AMT-SUB LIEN-SER B	5.000	07/01/2025	85.840 / 92.030	6.190	95.530 / 98.473	9	290

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)
45479R-AF-4	INDIANA HEALTH & EDL FAC FING AUTH HOSP REV CLARIAN HEALTH OBLIG-SER A	5.000	02/15/2036		5.293 / 99.000	93.707	5	105
93974A-TX-2	WASHINGTON ST CAP APPREC-MOTOR VEHICLE-SER F	0.000	12/01/2018	60.505 / 60.505	61.020 / 90.258	29.238	43	13230+3
798147-L2-8	SAN JOSE CALIF REDEV AGY TAX ALLOCATION REF-MERGED AREA REDEV PJ-SER C	3.750	08/01/2028		75.134 / 85.100	9.966	12	1415+1
650014-ML-4	NEW YORK ST TWY AUTH SECOND GEN HWY & BRDG TR FD SER A	5.000	04/01/2015		99.044 / 107.661	8.617	3	475
880443-BS-4	TENNESSEE ENERGY ACQUISITION CORP GAS REV SER A	5.250	09/01/2026	91.796 / 91.796	91.651 / 100.000	8.349	252	26735+11
745220-FR-9	PUERTO RICO COMWLTH INFRASTRUCTURE FING AUTH SPL REF-SER C	5.500	07/01/2026		99.000 / 106.721	7.721	11	1805
546456-AY-0	LOUISIANA ST CITIZENS PPTY INS CORP ASSMT REV SER B	5.000	06/01/2016		99.250 / 106.849	7.599	3	150
220112-WQ-5	CORPUS CHRISTI TEX REF-GEN IMPT	5.000	03/01/2023		101.892 / 109.250	7.358	20	2340
472682-NW-9	JEFFERSON CNTY ALA SWR REV UNREFUNDED BAL-REF-WTS-SER A	5.625	02/01/2018	89.484 / 91.559	92.309 / 99.300	6.991	8	90
312066-CK-7	FAUQUIER CNTY VA INDL DEV AUTH HOSP REV FAUQUIER HOSP OBLIG GRP-SER B	5.250	10/01/2037	97.668 / 97.668	92.000 / 98.910	6.910	11	625

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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