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: 03/26/2008.

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)
13062N-3M-7	CALIFORNIA ST	5.000	10/01/2032	88.180 / 96.625	100.000 / 100.000	11.820	8	120
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	86.580 / 86.580	88.520 / 97.140	10.560	7	80
162033-GD-0	CHATHAM CNTY GA HOSP AUTH REV HOSP-IMPT-MEM HEALTH UNIV-A	5.500	01/01/2034	81.295 / 81.295	91.300 / 91.300	10.005	4	200
745190-N2-0	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV UNREFUNDED BAL-SER A-MBIA IBC	5.000	07/01/2038	90.223 / 90.223	100.000 / 100.000	9.777	4	20
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	77.177 / 79.250	86.875 / 86.875	9.698	13	185
64579F-PJ-6	NEW JERSEY HEALTH CARE FACS FING AUTH REV UNREFUNDED BAL-ST BARNABAS-B	4.750	07/01/2028	90.574 / 90.574	100.000 / 100.000	9.426	2	15
59333P-EE-4	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.000	10/01/2033	88.000 / 92.750	95.686 / 97.300	9.300	14	190
442348-ZY-7	HOUSTON TEX ARPT SYS REV AMT-SUB LIEN-SER B	5.000	07/01/2025	89.750 / 93.249	94.250 / 98.853	9.103	7	655
235036-FZ-8	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A	5.000	11/01/2035	87.670 / 92.620	96.370 / 96.370	8.700	5	60
613604-UQ-8	MONTGOMERY CNTY PA HIGHER ED & HEALTH AUTH HOSP REV ABINGTON MEM HOSP-SER A	5.125	06/01/2027	92.080 / 92.080	95.580 / 100.000	7.920	5	55

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)
13062N-3M-7	CALIFORNIA ST	5.000	10/01/2032	88.180 / 96.625	8.445	100.000 / 100.000	8	120
084204-BG-0	BERKELEY CNTY S C SCH DIST CTFS PARTN BERKELEY SCH FACS GRP INC	5.250	02/01/2016	97.000 / 103.800	6.800	97.000 / 97.000	4	60
485428-PX-8	KANSAS ST DEV FIN AUTH REV PUB WTR SUPPLY REVOLVING LN-2	5.000	04/01/2024	92.606 / 97.911	5.305		3	15
485428-LB-0	KANSAS ST DEV FIN AUTH REV BRD REGENTS-UNIV KANSAS PJ	5.000	05/01/2022	93.655 / 98.658	5.003		3	15
235036-FZ-8	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A	5.000	11/01/2035	87.670 / 92.620	4.950	96.370 / 96.370	5	60
59333P-EE-4	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.000	10/01/2033	88.000 / 92.750	4.750	95.686 / 97.300	14	190
38122N-AQ-5	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.750	06/01/2039	108.856 / 113.501	4.645	115.488 / 115.608	20	435
233572-FT-8	DADE CNTY FLA SPL OBLIG REF-SER B	5.000	10/01/2035	92.940 / 97.376	4.436	95.940 / 95.940	3	30+1
26444C-GF-3	DULUTH MINN ECONOMIC DEV AUTH HEALTH CARE FACS REV BENEDICTINE HLTH SYS-ST MARYS	4.750	02/15/2028	103.000 / 107.322	4.322	106.415 / 109.919	10	385
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	87.100 / 91.299	4.199		6	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)
542690-ZA-3	LONG ISLAND PWR AUTH N Y ELEC SYS REV GEN-SER C	5.000	09/01/2035		10.000 / 100.000	90.000	109	8330+2
646136-TQ-4	NEW JERSEY ST TRANSN TR FD AUTH CAP APPREC-TRANSN-C-BHAC-CR	0.000	12/15/2031		28.631 / 37.775	9.144	7	310+6
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	86.580 / 86.580	88.520 / 97.140	8.620	7	80
745235-D6-5	PUERTO RICO PUB BLDGS AUTH REV GTD UNREFUNDED BAL-GOVT FACS-I	5.250	07/01/2033	95.040 / 96.625	95.290 / 101.900	6.610	13	895+3
574217-C6-0	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV MEDSTAR HEALTH	5.250	05/15/2046		89.000 / 95.538	6.538	15	1825
378286-GD-4	GLENDALE ARIZ INDL DEV AUTH REV REF-MIDWESTERN UNIV	5.000	05/15/2031		93.744 / 100.000	6.256	3	70+1
118217-AP-3	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	5.125	06/01/2024	92.969 / 93.269	93.269 / 98.960	5.691	8	480+2
431022-KL-5	HIGHLANDS CNTY FLA HEALTH FACS AUTH REV HOSP-ADVENTIST HLTH-D-MBIA IBC	5.000	11/15/2035	96.750 / 96.750	94.362 / 100.000	5.638	27	2875
181004-AX-0	CLARK CNTY NEV INDL DEV REV REF-NEVADA PWR CO PJ-SER B	5.900	10/01/2030	81.700 / 81.700	82.000 / 87.627	5.627	3	30
57652T-AV-9	MATAGORDA CNTY TEX NAV DIST NO 1 REV REF-HOUSTON LTG-RMKT-11/24/98	5.125	11/01/2028	88.119 / 88.119	89.730 / 94.780	5.050	15	320+1

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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