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: 03/17/2008.

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)
196345-BL-5	COLORADO CENTRE MET DIST COLO ADJ-INT ONLY-SER A	9.000	01/01/2027	41.500 / 41.500	62.532 / 62.532	21.032	4	2.844
93978E-KG-6	WASHINGTON ST HEALTH CARE FACS AUTH REV SOUTHWEST WASH MED CTR	5.000	09/01/2028	88.803 / 88.803	90.928 / 100.819	12.016	6	110
745235-D6-5	PUERTO RICO PUB BLDGS AUTH REV GTD UNREFUNDED BAL-GOVT FACS-I	5.250	07/01/2033	89.623 / 89.623	90.650 / 100.376	10.753	23	530
74514L-PW-1	PUERTO RICO COMWLTH PREREFUNDED-PUB IMPT-SER A	5.000	07/01/2034	102.474 / 110.486	110.670 / 111.215	8.741	8	130+4
74514L-PR-2	PUERTO RICO COMWLTH PREREFUNDED-PUB IMPT-SER A	5.000	07/01/2033	102.222 / 106.929	108.171 / 110.000	7.778	6	75
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	81.375 / 83.100	89.112 / 89.112	7.737	12	95
745190-TU-2	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV SER K	5.000	07/01/2040	103.684 / 108.648	111.259 / 111.267	7.583	5	245
64971P-FG-5	NEW YORK N Y CITY INDL DEV AGY REV YANKEE STADIUM PJ-PILOT	4.500	03/01/2039	85.043 / 85.043	92.125 / 92.125	7.082	3	100
13062P-PY-2	CALIFORNIA ST RADIAN-IBCC	5.000	02/01/2033	103.625 / 104.000	110.677 / 110.677	7.052	5	300
59333P-EK-0	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL ARPT-SER A	4.750	10/01/2035	84.637 / 84.637	88.644 / 91.404	6.767	3	40

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)
74514L-PW-1	PUERTO RICO COMWLTH PREREFUNDED-PUB IMPT-SER A	5.000	07/01/2034	102.474 / 110.486	8.012	110.670 / 111.215	8	130+4
575898-AJ-0	MASSACHUSETTS ST PORT AUTH SPL FACS REV DELTA AIR LINES INC PJ-SER A	5.200	01/01/2020	92.100 / 99.798	7.698		2	25
053591-GT-4	AVERILL PK N Y CENT SCH DIST	4.125	06/15/2023	91.570 / 98.060	6.490		2	110
13062T-2W-3	CALIFORNIA ST PREREFUNDED	5.000	11/01/2030	102.750 / 108.415	5.665	107.426 / 107.426	4	125
717880-Z3-5	PHILADELPHIA PA SCH DIST SER A2	4.500	04/01/2023	93.312 / 98.564	5.252	99.989 / 99.989	5	130
13062T-Z6-4	CALIFORNIA ST PREREFUNDED	5.125	06/01/2031	103.375 / 108.446	5.071	105.334 / 106.428	6	85+2
745190-TU-2	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV SER K	5.000	07/01/2040	103.684 / 108.648	4.964	111.259 / 111.267	5	245
26444C-GG-1	DULUTH MINN ECONOMIC DEV AUTH HEALTH CARE FACS REV BENEDICTINE HLTH SYS-ST MARYS	5.250	02/15/2028	106.500 / 111.379	4.879		5	145
74514L-PR-2	PUERTO RICO COMWLTH PREREFUNDED-PUB IMPT-SER A	5.000	07/01/2033	102.222 / 106.929	4.707	108.171 / 110.000	6	75
631657-DB-6	NASSAU CNTY N Y INDL DEV AGY CIVIC FAC REV REF-HOFSTRA UNIV PJ	4.750	07/01/2028	91.957 / 96.573	4.616	95.000 / 95.000	5	60

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)
38251N-BW-4	GOODYEAR ARIZ CMNTY FACS UTILS DIST NO 1	5.200	07/15/2024		5.250 / 99.448	94.198	2	30
93978E-KG-6	WASHINGTON ST HEALTH CARE FACS AUTH REV SOUTHWEST WASH MED CTR	5.000	09/01/2028	88.803 / 88.803	90.928 / 100.819	9.891	6	110
745235-D6-5	PUERTO RICO PUB BLDGS AUTH REV GTD UNREFUNDED BAL-GOVT FACS-I	5.250	07/01/2033	89.623 / 89.623	90.650 / 100.376	9.726	23	530
678908-E5-9	OKLAHOMA DEV FIN AUTH REV REF-ST JOHN HEALTH SYS	5.000	02/15/2032		94.054 / 100.000	5.946	15	2515
66285W-BQ-8	NORTH TEX TWY AUTH REV REF-SYS-FIRST TIER-SER B	5.750	01/01/2040		99.250 / 105.018	5.768	26	2950
797391-NX-3	SAN DIEGO CNTY CALIF CTFS PARTN	5.000	08/15/2028	95.900 / 98.010	96.600 / 102.145	5.545	4	195
842471-AY-0	SOUTHERN CALIF PUB PWR AUTH NAT GAS PROJ REV PROJ NO 1-SER A	5.000	11/01/2033		91.300 / 96.513	5.213	29	1880
73358T-QM-6	PORT AUTH N Y & N J CONS-ONE HUNDRED FORTY FIRST	4.500	09/01/2035		87.191 / 92.250	5.059	8	240
454898-NT-0	INDIANA MUN PWR AGY PWR SUPPLY SYS REV SER A	5.000	01/01/2042	94.549 / 94.549	94.997 / 100.000	5.003	6	65+2
64579E-2H-8	NEW JERSEY HEALTH CARE FACS FING AUTH REV FHA-JERSEY CITY MED CENTER	5.000	08/01/2041	95.125 / 97.080	96.250 / 101.000	4.750	6	670

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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