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: 04/07/2008.

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)
83715A-AC-3	SOUTH CAROLINA STUDENT LN CORP REV ARS-STUDENT LN BKD NTS-A-1		09/04/2046	85.000 / 100.000	85.000 / 100.000	15.000	4	1000
92707U-AC-0	VILLAGE CMNTY DEV DIST NO 6 FLA SPL ASSMT REV	5.250	05/01/2037	79.110 / 79.110	92.975 / 92.975	13.865	4	175
235035-AM-4	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	6.375	05/01/2035	69.000 / 69.000	79.750 / 79.750	10.750	6	170
594751-AG-4	MICHIGAN TOB SETTLEMENT FIN AUTH TOB SETTLEMENT ASSET SR-SER A	6.000	06/01/2048	87.278 / 87.278	92.224 / 97.141	9.863	9	420
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	87.500 / 91.280	92.142 / 97.326	9.826	12	210
66585V-AW-5	NORTHERN TOB SECURITIZATION CORP ALASKA TOB SETTLEMENT REV ASSET BKD-SER A	5.000	06/01/2046	72.776 / 72.776	82.000 / 82.250	9.474	3	185
59333P-EK-0	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL ARPT-SER A	4.750	10/01/2035	81.690 / 81.690	90.754 / 90.754	9.064	4	190
733581-2C-5	PORT AUTH N Y & N J CONS-127TH SER	5.125	06/15/2037	89.860 / 94.630	98.130 / 98.130	8.270	4	50
574217-HD-0	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV FREDERICK MEM HOSP	5.125	07/01/2035	90.306 / 96.030	96.507 / 98.500	8.194	7	165
898526-CZ-9	TSASC INC N Y REV SER 1	5.000	06/01/2034	85.415 / 85.415	93.236 / 93.500	8.085	4	130

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)
83715A-AC-3	SOUTH CAROLINA STUDENT LN CORP REV ARS-STUDENT LN BKD NTS-A-1		09/04/2046	85.000 / 100.000	15.000	85.000 / 100.000	4	1000
11506K-AP-6	BROWARD CNTY FLA PORT FACS REV REF-AMT-SER B	5.000	09/01/2027	89.933 / 97.500	7.567		4	60
245913-FS-2	DELAWARE CNTY PA AUTH REV HLTH SYS-CATHOLIC HLTH EAST-A	4.875	11/15/2026	94.333 / 100.844	6.511		3	45
71781E-AW-5	PHILADELPHIA PA AUTH FOR INDL DEV ARPT REV PHILADELPHIA ARPT SYS PJ-SER A	5.000	07/01/2023	92.630 / 99.129	6.499	100.000 / 100.000	3	35
745190-K2-3	PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV PREREFUNDED-SER G	5.000	07/01/2042	102.857 / 109.102	6.245	106.119 / 110.877	8	245
41415M-AV-6	HARRIS CNTY TEX HEALTH FACS DEV CORP MED FACS REV BAYLOR COLLEGE MED PJ-SER A	5.000	11/15/2028	95.220 / 101.000	5.780		2	10
574217-HD-0	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV FREDERICK MEM HOSP	5.125	07/01/2035	90.306 / 96.030	5.724	96.507 / 98.500	7	165
71781E-AX-3	PHILADELPHIA PA AUTH FOR INDL DEV ARPT REV PHILADELPHIA ARPT SYS PJ-SER A	5.125	07/01/2028	94.000 / 99.453	5.453		5	150
733581-2C-5	PORT AUTH N Y & N J CONS-127TH SER	5.125	06/15/2037	89.860 / 94.630	4.770	98.130 / 98.130	4	50
13062T-2W-3	CALIFORNIA ST PREREFUNDED	5.000	11/01/2030	104.000 / 108.000	4.000	108.105 / 108.279	12	595

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)
83715A-AC-3	SOUTH CAROLINA STUDENT LN CORP REV ARS-STUDENT LN BKD NTS-A-1		09/04/2046	85.000 / 100.000	85.000 / 100.000	15.000	4	1000
73358T-CL-3	PORT AUTH N Y & N J CONS-ONE HUNDRED THIRTY FOURTH	4.500	07/15/2029		86.892 / 97.526	10.634	4	25
442348-P8-5	HOUSTON TEX ARPT SYS REV SPL FACS-CONTINENTAL-SER E	6.750	07/01/2029		89.175 / 97.360	8.185	3	40
386442-PK-7	GRAND RIVER DAM AUTH OKLA REV REF	5.500	06/01/2010		100.000 / 105.667	5.667	2	27.5
777863-AT-8	ROSEVILLE CALIF NAT GAS FING AUTH GAS REV	5.000	02/15/2026		89.127 / 94.780	5.653	25	770
59469C-4X-8	MICHIGAN ST STRATEGIC FD LTD OBLIG REV AMT-REF-DETROIT EDISON CO PJ-C	5.450	12/15/2032	93.725 / 93.725	91.704 / 97.336	5.632	6	395
38122N-JA-1	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ENHANCED-SER A-AMBAC TCRS-BNY	5.000	06/01/2045	95.508 / 95.508	95.551 / 100.998	5.447	12	460
577635-AH-8	MAURY CNTY TENN INDL DEV BRD POLLUTN CTL REV MULTI-MODAL-REF-SATURN CORP PJ	6.500	09/01/2024		90.077 / 95.410	5.333	5	50
442348-ZY-7	HOUSTON TEX ARPT SYS REV AMT-SUB LIEN-SER B	5.000	07/01/2025	89.500 / 89.660	91.435 / 96.650	5.215	12	280
192137-DG-9	COFFEE CNTY GA HOSP AUTH REV REF-COFFEE REGL MED CTR INC PJ	5.000	12/01/2019	90.800 / 91.375	90.450 / 95.645	5.195	7	1230

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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