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: 03/07/2008.

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)
756639-GS-3	RED LAKE FALLS MINN REF-SER A	3.750	12/01/2012	87.221 / 87.221	100.000 / 100.000	12.779	4	80
70917R-FA-8	PENNSYLVANIA ST HIGHER EDL FACS AUTH REV TEMPLE UNIV-FIRST SER	4.500	04/01/2036	83.363 / 83.363	86.363 / 95.899	12.536	18	765
341426-DR-2	FLORIDA ST BRD ED CAP OUTLAY PUB ED-SER C	4.750	06/01/2029	87.610 / 87.610	99.000 / 99.000	11.390	5	35
246343-EZ-6	DELAWARE RIV JT TOLL BRDG COMMN PA BRDG REV SER A	4.500	07/01/2030	86.312 / 92.383	88.312 / 97.411	11.099	6	290
656491-MX-2	NORRISTOWN PA AREA SCH DIST REF	4.375	09/01/2033	85.657 / 85.657	94.119 / 96.369	10.712	3	110
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	79.500 / 84.686	85.436 / 90.086	10.586	41	1465+1
472682-MC-4	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.625	02/01/2022	84.500 / 87.409	88.500 / 94.176	9.676	15	355
658196-PP-9	NORTH CAROLINA EASTN MUN PWR AGY PWR SYS REV REF-SER B	6.000	01/01/2022	104.390 / 104.390	105.685 / 112.845	8.455	4	60
875128-JE-1	TAMPA BAY WTR FLA UTIL SYS REV UNREFUNDED BAL-SER A	4.750	10/01/2027	87.610 / 87.610	96.000 / 96.000	8.390	6	20
901766-HE-8	TWIN VALLEY PA SCH DIST	5.000	04/01/2016	103.390 / 103.390	111.730 / 111.730	8.340	3	30

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)
86909R-AJ-0	SUSQUEHANNA AREA REGL ARPT AUTH PA ARPT SYS REV SER B	5.000	01/01/2033	89.499 / 98.000	8.501	91.500 / 91.500	3	70
667825-KF-9	NORTHWEST TEX INDPT SCH DIST	5.000	08/15/2026	98.300 / 105.297	6.997	100.500 / 106.201	8	90
59333N-CX-9	MIAMI-DADE CNTY FLA SPL OBLIG SUB-SER B	5.000	10/01/2037	90.235 / 96.600	6.365		2	70
246343-EZ-6	DELAWARE RIV JT TOLL BRDG COMMN PA BRDG REV SER A	4.500	07/01/2030	86.312 / 92.383	6.071	88.312 / 97.411	6	290
684545-RR-9	ORANGE CNTY FLA TOURIST DEV TAX REV SR LIEN	5.125	10/01/2030	103.580 / 109.619	6.039	107.148 / 109.651	4	15+2
64983X-AW-4	NEW YORK ST DORM AUTH REVS CATHOLIC HLTH SVCS-SER B	5.750	07/01/2020	99.110 / 105.000	5.890	106.600 / 106.600	4	135
46936F-AK-4	JACKSONVILLE FLA ECONOMIC DEV COMMN HEALTH CARE FACS REV MAYO CLINIC	5.000	11/15/2036	92.448 / 97.750	5.302	98.595 / 100.000	6	1210
717825-JD-6	PHILADELPHIA PA HOSPS & HIGHER ED FACS AUTH REV HLTH SYS-JEFFERSON HLTH SYS-A	5.125	05/15/2021	95.260 / 100.476	5.216		5	60
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	79.500 / 84.686	5.186	85.436 / 90.086	41	1465+1
709223-QT-1	PENNSYLVANIA ST TPK COMMN TPK REV SER A	5.000	12/01/2034	93.159 / 97.995	4.836	96.159 / 96.159	3	25

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)
745160-PX-3	PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV SR LIEN-SER A	0.000	07/01/2024	82.116 / 82.342	37.435 / 82.016	44.581	63	12655+12
70917R-FA-8	PENNSYLVANIA ST HIGHER EDL FACS AUTH REV TEMPLE UNIV-FIRST SER	4.500	04/01/2036	83.363 / 83.363	86.363 / 95.899	9.536	18	765
246343-EZ-6	DELAWARE RIV JT TOLL BRDG COMMN PA BRDG REV SER A	4.500	07/01/2030	86.312 / 92.383	88.312 / 97.411	9.099	6	290
73358T-DX-6	PORT AUTH N Y & N J CONS-ONE HUNDRED THIRTY FIFTH	5.000	09/15/2027		93.713 / 102.350	8.637	5	50
79575E-AR-9	SALT VERDE FINL CORP GAS REV ARIZ SR	5.000	12/01/2032		87.189 / 95.223	8.034	46	2770
745220-FR-9	PUERTO RICO COMWLTH INFRASTRUCTURE FING AUTH SPL REF-SER C	5.500	07/01/2026		99.000 / 106.941	7.941	23	2125
472682-JE-4	JEFFERSON CNTY ALA SWR REV CAP IMPT-WTS-SER A	4.500	02/01/2012	89.993 / 90.264	90.264 / 97.470	7.206	13	430
658196-PP-9	NORTH CAROLINA EASTN MUN PWR AGY PWR SYS REV REF-SER B	6.000	01/01/2022	104.390 / 104.390	105.685 / 112.845	7.160	4	60
199507-F2-5	COLUMBUS OHIO CITY SCH DIST REF-SCH FACS CONSTR & IMPT	4.750	12/01/2024		96.962 / 102.810	5.848	18	1300+2
667825-KF-9	NORTHWEST TEX INDPT SCH DIST	5.000	08/15/2026	98.300 / 105.297	100.500 / 106.201	5.701	8	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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