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: 04/01/2008.

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)
546456-AT-1	LOUISIANA ST CITIZENS PPTY INS CORP ASSMT REV SER B	5.000	06/01/2012	93.000 / 93.000	103.790 / 103.790	10.790	3	120
474656-AV-7	JEFFERSON PARISH LA HOME MTG AUTH SINGLE FAMILY MTG REV	7.100	08/01/2010	99.258 / 99.258	108.900 / 108.900	9.642	2	35
341422-VE-0	FLORIDA ST BRD ED CAP OUTLAY REF-PUB ED-SER B	4.500	06/01/2024	89.000 / 89.000	92.000 / 97.747	8.747	5	110
64985M-YU-4	NEW YORK ST ENVIRONMENTAL FACS CORP ST CLEAN WTR & DRINKING REVOLVING FDS-NYC MUN WTR PJ-B	5.000	06/15/2027	93.850 / 100.120	98.000 / 102.121	8.271	6	115
83710D-NH-7	SOUTH CAROLINA ST ST HWY-SER A	3.000	08/01/2020	84.423 / 88.354	92.427 / 92.427	8.004	6	385
13066Y-CQ-0	CALIFORNIA ST DEPT WTR RES PWR SUPPLY REV SER A	5.250	05/01/2020	102.000 / 109.000	102.250 / 110.000	8.000	5	220
215723-HX-8	COOK CNTY ILL CMNTY HIGH SCH DIST NO 219 NILES TWP UNREFUNDED BALANCE-CAP APPREC	0.000	12/01/2020	41.750 / 41.750	49.628 / 49.628	7.878	4	20
235035-AK-8	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	6.000	11/01/2014	85.250 / 86.443	87.750 / 93.094	7.844	8	65
472644-AX-1	JEFFERSON CNTY ALA BRD ED SCH REF WTS-SER A	4.750	02/15/2018	92.000 / 92.000	98.032 / 99.750	7.750	8	85
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	87.550 / 91.050	95.274 / 95.274	7.724	11	340

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)
745268-E4-0	PUERTO RICO ELEC PWR AUTH PWR REV SER DD	4.500	07/01/2019	33.380 / 98.634	65.254		3	150
13066Y-CQ-0	CALIFORNIA ST DEPT WTR RES PWR SUPPLY REV SER A	5.250	05/01/2020	102.000 / 109.000	7.000	102.250 / 110.000	5	220
64985M-YU-4	NEW YORK ST ENVIRONMENTAL FACS CORP ST CLEAN WTR & DRINKING REVOLVING FDS-NYC MUN WTR PJ-B	5.000	06/15/2027	93.850 / 100.120	6.270	98.000 / 102.121	6	115
888808-AS-1	TOBACCO SETTLEMENT FING CORP N J ASSET BKD	6.000	06/01/2037	105.515 / 111.558	6.043	110.610 / 111.724	9	280+2
733581-L2-6	PORT AUTH N Y & N J CONS-124TH SER	5.000	08/01/2036	91.119 / 96.770	5.651		4	60
235241-BA-3	DALLAS TEX AREA RAPID TRAN SALES TAX REV SR LIEN	5.000	12/01/2031	101.000 / 105.876	4.876	106.876 / 107.595	6	185
64578C-AH-4	NEW JERSEY ECONOMIC DEV AUTH SPL FAC REV CONTINENTAL AIRLINES INC PJ	6.250	09/15/2029	82.000 / 86.500	4.500	85.351 / 85.351	6	210
249181-WD-6	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2025	91.554 / 96.000	4.446	94.820 / 95.739	12	530
017106-BU-8	ALLEGANY CNTY N Y INDL DEV AGY CIVIC FAC REV ALFRED UNIV CIVIC FAC	5.000	08/01/2028	94.662 / 99.000	4.338		2	25
592646-KU-6	METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV AMT-SER B	5.000	10/01/2034	89.189 / 93.440	4.251	96.440 / 96.440	11	300

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)
649842-CE-9	NEW YORK ST ENERGY RESH & DEV AUTH GAS FACS REV ARS-BROOKLYN UN-D-RMKT 12/1/05		07/01/2026	100.000 / 100.000	90.500 / 100.000	9.500	5	400+1
13066Y-CQ-0	CALIFORNIA ST DEPT WTR RES PWR SUPPLY REV SER A	5.250	05/01/2020	102.000 / 109.000	102.250 / 110.000	7.750	5	220
472653-AJ-3	JEFFERSON CNTY ALA LTD OBLIG SCH WT SER A	5.250	01/01/2015	93.250 / 93.250	93.500 / 100.000	6.500	9	720+1
582361-AA-9	MCMINN CNTY TENN INDL DEV BRD SOLID WASTE REV RECYCLING FAC-CALHOUN NWSPRNT	7.400	12/01/2022		65.000 / 71.000	6.000	2	450
745235-D2-4	PUERTO RICO PUB BLDGS AUTH REV GTD UNREFUNDED BAL-GOVT FACS-D	5.125	07/01/2024		96.500 / 102.295	5.795	2	35
341422-VE-0	FLORIDA ST BRD ED CAP OUTLAY REF-PUB ED-SER B	4.500	06/01/2024	89.000 / 89.000	92.000 / 97.747	5.747	5	110
13033F-YB-0	CALIFORNIA HEALTH FACS FING AUTH REV REF-CEDARS-SINAI MED CTR	5.000	11/15/2034	92.785 / 92.785	93.445 / 99.000	5.555	15	1145+1
875518-DK-5	TANGIPAHOA PARISH LA HOSP SVC DIST NO 1 HOSP REV REF-NORTH OAKS MED CTR PJ-A	5.000	02/01/2030		90.500 / 96.000	5.500	2	55
235035-AK-8	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	6.000	11/01/2014	85.250 / 86.443	87.750 / 93.094	5.344	8	65
592646-FW-8	METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV REF-SER D	5.000	10/01/2032		92.000 / 97.241	5.241	4	70

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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