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: 03/27/2008.

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)
472653-AJ-3	JEFFERSON CNTY ALA LTD OBLIG SCH WT SER A	5.250	01/01/2015	84.500 / 95.180	99.750 / 100.000	15.500	9	290
898700-CB-3	TUCSON & PIMA CNTY ARIZ INDL DEV AUTHS SINGLE FAMILY MTG CAP APPRECIATION-SER 1983 A	0.000	12/01/2014	78.232 / 78.232	81.282 / 91.282	13.050	5	305
71883M-CQ-5	PHOENIX ARIZ CIVIC IMPT CORP ARPT REV AMT-SR LIEN-SER B	5.250	07/01/2032	88.813 / 88.813	99.477 / 99.477	10.664	6	55
348422-AR-7	FORT PIERCE FLA STORMWATER UTIL REV	4.750	10/01/2027	95.895 / 95.895	104.738 / 104.738	8.843	3	1055
167592-UZ-5	CHICAGO ILL O HARE INTL ARPT REV AMT-2ND LIEN PASSENGER FAC-C	5.250	01/01/2032	91.290 / 97.747	94.790 / 99.997	8.707	8	330
181004-CZ-3	CLARK CNTY NEV INDL DEV REV REF-SOUTHWEST GAS CORP PROJ-B	5.000	12/01/2033	81.183 / 82.625	89.375 / 89.375	8.192	6	260
88880P-AC-8	TOBACCO SETTLEMENT FING CORP LA REV ASSET-BKD-SER B	5.875	05/15/2039	89.370 / 90.205	95.311 / 97.551	8.181	12	445
44420P-AA-2	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A-MBIA	4.500	02/15/2047	84.000 / 84.000	91.286 / 91.286	7.286	3	65
091089-KH-4	BIRMINGHAM ALA WTRWKS & SWR BRD WTR & SWR REV SUB-SER A	4.500	01/01/2039	84.565 / 84.565	91.750 / 91.750	7.185	4	175
717893-SY-8	PHILADELPHIA PA WTR & WASTEWTR REV PREREFUNDED-SER A	5.000	11/01/2031	102.815 / 104.120	105.213 / 109.920	7.105	7	95

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)
472653-AJ-3	JEFFERSON CNTY ALA LTD OBLIG SCH WT SER A	5.250	01/01/2015	84.500 / 95.180	10.680	99.750 / 100.000	9	290
167592-UZ-5	CHICAGO ILL O HARE INTL ARPT REV AMT-2ND LIEN PASSENGER FAC-C	5.250	01/01/2032	91.290 / 97.747	6.457	94.790 / 99.997	8	330
40227L-BA-3	GULF ENVIRONMENTAL SVCS INC FLA WTR & SWR REV	5.000	10/01/2027	99.050 / 105.321	6.271		4	55
709193-JN-7	PENNSYLVANIA ST INDL DEV AUTH REV ECONOMIC DEV	5.250	07/01/2011	101.699 / 106.860	5.161	104.699 / 108.160	6	280
576029-AS-1	MASSACHUSETTS ST TPK AUTH TPK REV SER A	5.125	01/01/2023	101.395 / 106.053	4.658		4	70
72177N-AL-9	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV SER C	6.000	06/01/2017	75.000 / 79.400	4.400		5	2.169
38122N-AQ-5	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.750	06/01/2039	110.769 / 115.134	4.365	112.214 / 116.058	7	105
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	89.718 / 94.000	4.282	90.718 / 96.625	25	2105
57582N-Q2-4	MASSACHUSETTS ST PREREFUNDED-CONS LN-SER D	5.000	08/01/2027	103.560 / 107.717	4.157	105.560 / 105.560	3	35
745190-K2-3	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV PREREFUNDED-SER G	5.000	07/01/2042	101.336 / 105.379	4.043		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)
118217-AQ-1	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	5.875	06/01/2030		77.049 / 95.523	18.474	3	20+1
79905L-BN-2	SAN MATEO CNTY CALIF TRAN DIST SER A	5.000	06/01/2014		104.161 / 119.000	14.839	3	330
898700-CB-3	TUCSON & PIMA CNTY ARIZ INDL DEV AUTHS SINGLE FAMILY MTG CAP APPRECIATION-SER 1983 A	0.000	12/01/2014	78.232 / 78.232	81.282 / 91.282	10.000	5	305
64468C-AV-6	NEW HAMPSHIRE ST BUSINESS FIN AUTH POLLUTION CTL REV PUB SVC CO N H PROJ-SER C	5.450	05/01/2021	100.000 / 103.859	100.125 / 106.259	6.134	10	1100+5
249189-CF-6	DENVER COLO CONVENTION CTR HOTEL AUTH REV REF-SR	5.000	12/01/2035		88.916 / 95.030	6.114	8	390
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	89.718 / 94.000	90.718 / 96.625	5.907	25	2105
45479R-AH-0	INDIANA HEALTH & EDL FAC FING AUTH HOSP REV CLARIAN HEALTH OBLIG-SER A	5.250	02/15/2040		92.724 / 98.430	5.706	5	2700
798781-TN-0	SAN MARCOS TEX CONS INDPT SCH DIST REF-SCH BLDG	4.500	08/01/2026		94.267 / 99.900	5.633	6	70+1
799015-FG-2	SAN MATEO CALIF REDEV AGY TAX ALLOCATION MERGED AREA TAX ALLOC-SER A	4.375	08/01/2032		82.073 / 87.651	5.578	9	275
545149-CA-2	LOS ANGELES CNTY CALIF SANTN DISTS FING AUTH REV CAP PROJ-SER A	5.000	10/01/2021		100.000 / 105.399	5.399	2	30

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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