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: 04/04/2008.

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)
130536-KP-9	CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV SACRAMENTO BIOSOLIDS FAC PJ-A	5.500	12/01/2024	73.709 / 73.709	92.282 / 92.282	18.573	4	78
047060-CT-3	ATHENS-CLARKE CNTY GA UNI GOVT DEV AUTH EDL FACS REV CAP APPREC-UGAREF CENT PRECINT	0.000	06/15/2017	68.700 / 68.700	84.457 / 84.457	15.757	3	135
594693-AQ-6	MICHIGAN ST STRATEGIC FD POLLUTION CTL REV ADJ-REF-GEN MTRS CORP	6.200	09/01/2020	72.066 / 72.066	78.000 / 84.110	12.044	6	60
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	74.000 / 74.000	82.827 / 82.827	8.827	4	35
386442-PK-7	GRAND RIVER DAM AUTH OKLA REV REF	5.500	06/01/2010	96.560 / 104.150	105.150 / 105.150	8.590	7	17.5
60635E-CA-2	MISSOURI ST ENVIRONMENTAL IMPT & ENERGY RES AUTH WTR FAC REV MO-AMERN WTR CO PROJ-SER B	5.000	11/01/2028	86.606 / 86.606	95.064 / 95.064	8.458	6	45
59333P-BT-4	MIAMI-DADE CNTY FLA AVIATION REV AMT-SER C	5.000	10/01/2028	91.069 / 91.069	99.063 / 99.063	7.994	3	45
74529J-AR-6	PUERTO RICO SALES TAX FING CORP SALES TAX REV SER A	5.250	08/01/2057	91.978 / 95.433	92.590 / 99.000	7.022	41	2910
59333P-EF-1	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.125	10/01/2035	93.270 / 93.270	96.770 / 100.200	6.930	6	40
680856-AB-7	OLIVER CNTY N D SOLID WASTE REV REF-FAC-SQUARE BUTTE ELEC-B	5.450	01/01/2024	93.100 / 93.100	100.000 / 100.000	6.900	5	25

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)
958697-AW-4	WESTERN MINN MUN PWR AGY MINN PWR SUPPLY REV	6.375	01/01/2016	97.431 / 110.054	12.623		5	185
386442-PK-7	GRAND RIVER DAM AUTH OKLA REV REF	5.500	06/01/2010	96.560 / 104.150	7.590	105.150 / 105.150	7	17.5
732557-AJ-2	PONTIAC MICH HOSP FIN AUTH HOSP REV NOMC OBLIG GROUP	6.000	08/01/2018	34.000 / 41.171	7.171	39.000 / 39.000	6	190
745190-K2-3	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV PREREFUNDED-SER G	5.000	07/01/2042	104.615 / 109.759	5.144	109.100 / 110.063	22	3765
745190-TU-2	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV SER K	5.000	07/01/2040	104.366 / 108.734	4.368		5	110
14601G-AS-7	CARSON CALIF PUB FING AUTH REASSESSMENT REV SER A	5.000	09/02/2031	88.269 / 92.486	4.217	94.386 / 94.386	3	90
472682-MN-0	JEFFERSON CNTY ALA SWR REV REF-B 8	5.250	02/01/2012	96.875 / 100.875	4.000	97.875 / 101.383	16	2400
13062T-2W-3	CALIFORNIA ST PREREFUNDED	5.000	11/01/2030	104.000 / 107.934	3.934	107.934 / 108.999	12	1265
67227R-CJ-3	OAKLAND CALIF JT PWRS FING AUTH REV REF-SER A-1	5.000	01/01/2015	105.014 / 108.645	3.631	108.582 / 108.582	15	2750+5
927676-JL-1	VIRGIN ISLANDS PUB FIN AUTH REV GROSS RCPTS TAXES LN NT-SER A	6.125	10/01/2029	105.000 / 108.600	3.600	105.870 / 105.870	6	260

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)
474656-AV-7	JEFFERSON PARISH LA HOME MTG AUTH SINGLE FAMILY MTG REV	7.100	08/01/2010		100.297 / 108.848	8.551	3	45
167736-VV-6	CHICAGO ILL WTR REV REF-SECOND LIEN	5.000	11/01/2016		109.062 / 117.189	8.127	12	3095+2
56516M-AS-9	MAPLE GROVE MINN HEALTH CARE SYS REV MAPLE GROVE HOSP CORP	5.250	05/01/2037		93.751 / 100.344	6.593	15	355
74529J-AR-6	PUERTO RICO SALES TAX FING CORP SALES TAX REV SER A	5.250	08/01/2057	91.978 / 95.433	92.590 / 99.000	6.410	41	2910
594693-AQ-6	MICHIGAN ST STRATEGIC FD POLLUTION CTL REV ADJ-REF-GEN MTRS CORP	6.200	09/01/2020	72.066 / 72.066	78.000 / 84.110	6.110	6	60
54241A-AW-3	LONG BEACH CALIF BD FIN AUTH NAT GAS PUR REV SER A	5.500	11/15/2030	92.686 / 92.686	92.686 / 97.876	5.190	16	645+2
574192-C7-3	MARYLAND ST ST & LOC FACS LN-FIRST SER	5.000	03/15/2019	108.356 / 108.356	103.501 / 108.620	5.119	6	1370
64579F-VF-7	NEW JERSEY HEALTH CARE FACS FING AUTH REV HACKENSACK UNIV MED CTR	5.250	01/01/2036		99.000 / 104.081	5.081	9	575
759804-EE-3	RENO CNTY KANS UNI SCH DIST NO 308 HUTCHINSON SER A	3.000	09/01/2027		73.494 / 78.250	4.756	5	140
20774U-UY-9	CONNECTICUT ST HEALTH & EDL FACS AUTH REV MIDDLESEX HOSP-M-RMKT 04/17/08	4.450	07/01/2022	98.927 / 98.952	98.852 / 103.556	4.704	12	1510

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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