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: 03/28/2008.

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)
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	79.600 / 88.347	90.180 / 94.537	14.937	13	365
407272-G3-1	HAMILTON CNTY OHIO HOSP FACS REV CHILDRENS HOSP MED CTR-SER G	4.750	05/15/2028	86.749 / 95.210	98.710 / 98.710	11.961	3	25
592597-3V-8	METROPOLITAN TRANSN AUTH N Y SVC CONTRACT SER B-FGIC TCRS	5.500	07/01/2017	102.000 / 111.300	102.200 / 111.350	9.350	4	280
745145-GB-2	PUERTO RICO COMWLTH REF-PUB IMPT-AMBAC TCRS	4.500	07/01/2023	90.702 / 90.702	99.800 / 100.000	9.298	5	95
13062P-BQ-4	CALIFORNIA ST	5.000	02/01/2033	90.283 / 93.500	99.000 / 99.000	8.717	5	35
733581-K5-0	PORT AUTH N Y & N J CONS-124TH SER	5.000	08/01/2031	88.640 / 88.640	95.652 / 96.652	8.012	3	80
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	89.134 / 94.000	91.759 / 97.000	7.866	23	2225
594693-AQ-6	MICHIGAN ST STRATEGIC FD POLLUTION CTL REV ADJ-REF-GEN MTRS CORP	6.200	09/01/2020	77.075 / 77.075	83.900 / 84.751	7.676	9	220
235036-EM-8	DALLAS FORT WORTH TEX INTL ARPT REV REF & IMPT-JT-SER A	5.000	11/01/2035	83.900 / 89.050	91.550 / 91.550	7.650	5	100
01852L-AB-6	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLS INC PROJ	7.000	12/01/2011	92.591 / 93.006	100.000 / 100.000	7.409	10	190

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)
592597-3V-8	METROPOLITAN TRANSN AUTH N Y SVC CONTRACT SER B-FGIC TCRS	5.500	07/01/2017	102.000 / 111.300	9.300	102.200 / 111.350	4	280
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	79.600 / 88.347	8.747	90.180 / 94.537	13	365
407272-G3-1	HAMILTON CNTY OHIO HOSP FACS REV CHILDRENS HOSP MED CTR-SER G	4.750	05/15/2028	86.749 / 95.210	8.461	98.710 / 98.710	3	25
857322-PZ-8	STATE PUB SCH BLDG AUTH PA SCH REV LEASE-PHILADELPHIA SCH DIST PJ	5.000	06/01/2033	102.037 / 108.250	6.213	107.025 / 107.025	4	70
235036-EM-8	DALLAS FORT WORTH TEX INTL ARPT REV REF & IMPT-JT-SER A	5.000	11/01/2035	83.900 / 89.050	5.150	91.550 / 91.550	5	100
745190-K2-3	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV PREREFUNDED-SER G	5.000	07/01/2042	103.384 / 108.300	4.916	109.791 / 109.878	16	565
167592-WL-4	CHICAGO ILL O HARE INTL ARPT REV REF-GEN ARPT THIRD LIEN-SER A	5.375	01/01/2032	88.665 / 93.550	4.885	95.165 / 95.165	5	25
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	89.134 / 94.000	4.866	91.759 / 97.000	23	2225
59333P-EE-4	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.000	10/01/2033	89.129 / 93.750	4.621	95.686 / 96.500	10	185
213183-K5-4	COOK CNTY ILL CAP IMPT-SER A	5.000	11/15/2028	94.867 / 99.238	4.371		2	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)
66585V-AW-5	NORTHERN TOB SECURITIZATION CORP ALASKA TOB SETTLEMENT REV ASSET BKD-SER A	5.000	06/01/2046		78.750 / 93.670	14.920	3	50
593493-AV-1	MIAMI FLA SPL REV CAP APPREC-REF	0.000	01/01/2015		67.350 / 78.768	11.418	8	540
592597-3V-8	METROPOLITAN TRANSN AUTH N Y SVC CONTRACT SER B-FGIC TCRS	5.500	07/01/2017	102.000 / 111.300	102.200 / 111.350	9.150	4	280
091104-GG-8	BIRMINGHAM BAPTIST MED CTR ALA SPL CARE FACS FING AUTH REV BAPTIST HEALTH SYS INC-SER A	5.000	11/15/2030	90.430 / 90.430	88.001 / 94.180	6.179	4	40
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	89.134 / 94.000	91.759 / 97.000	5.241	23	2225
118217-AU-2	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	5.875	06/01/2047		87.989 / 92.820	4.831	11	290+4
249189-CF-6	DENVER COLO CONVENTION CTR HOTEL AUTH REV REF-SR	5.000	12/01/2035		89.667 / 94.375	4.708	3	60
887127-KD-9	TIMBER LANE TEX UTIL DIST	4.750	08/01/2026	89.496 / 89.496	91.942 / 96.609	4.667	3	85
45188F-AC-9	ILLINOIS DEV FIN AUTH GAS SUPPLY REV REF-PEOPLES GAS LIGHT & COKE	5.000	02/01/2033		95.403 / 99.993	4.590	8	165
575898-AL-5	MASSACHUSETTS ST PORT AUTH SPL FACS REV DELTA AIR LINES INC PJ-SER A	5.000	01/01/2027	89.092 / 89.492	89.492 / 94.066	4.574	11	495

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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