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: 04/10/2008.

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)
59333P-EK-0	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL ARPT-SER A	4.750	10/01/2035	78.869 / 78.869	92.171 / 92.171	13.302	6	65
59333P-EF-1	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.125	10/01/2035	86.720 / 96.130	98.759 / 99.630	12.910	8	65
59333P-AW-8	MIAMI-DADE CNTY FLA AVIATION REV AMT-REF-SER A	5.000	10/01/2024	89.510 / 89.510	93.599 / 100.000	10.490	9	210
59333P-EE-4	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.000	10/01/2033	89.010 / 94.497	95.031 / 98.920	9.910	24	340
57420U-AK-1	MARYLAND ST ECONOMIC DEV CORP NURSING FAC MTG REV SR-RAVENWOOD HLTHCARE FAC-A	8.750	08/01/2027	68.191 / 73.000	73.500 / 77.700	9.509	13	471.806
595816-AR-0	MIDDLE RIV REGL JAIL AUTH VA JAIL FAC REV	4.625	05/15/2033	89.435 / 89.435	98.444 / 98.444	9.009	4	20
59333P-BS-6	MIAMI-DADE CNTY FLA AVIATION REV AMT-SER C	5.000	10/01/2023	92.125 / 94.000	99.100 / 101.000	8.875	10	385
71781E-AX-3	PHILADELPHIA PA AUTH FOR INDL DEV ARPT REV PHILADELPHIA ARPT SYS PJ-SER A	5.125	07/01/2028	91.171 / 91.171	94.521 / 100.000	8.829	8	140
38122N-BX-9	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ENHANCED-ASSET BKD-SER B	5.000	06/01/2038	99.022 / 105.395	107.500 / 107.500	8.478	5	44
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	85.492 / 85.492	92.080 / 93.433	7.941	7	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)
546398-DJ-4	LOUISIANA PUB FACS AUTH REV OCHSNER CLINIC FNDTN PJ-SER B	5.500	05/15/2032	102.000 / 112.091	10.091	107.150 / 107.150	7	190
59333P-EF-1	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.125	10/01/2035	86.720 / 96.130	9.410	98.759 / 99.630	8	65
62947Y-AE-1	NEW YORK CNTYS TOB TR IV SETTLEMENT PASS THRU-SER A	5.000	06/01/2045	80.035 / 87.171	7.136		2	10
38122N-BX-9	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ENHANCED-ASSET BKD-SER B	5.000	06/01/2038	99.022 / 105.395	6.373	107.500 / 107.500	5	44
59333P-EE-4	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.000	10/01/2033	89.010 / 94.497	5.487	95.031 / 98.920	24	340
888808-AT-9	TOBACCO SETTLEMENT FING CORP N J ASSET BKD	6.125	06/01/2042	105.000 / 110.313	5.313	109.250 / 109.750	7	175
689585-AQ-0	OTTER CREEK WTR RECLAMATION DIST KANE CNTY ILL REF-SEPARATE WTRWKS & SEW SYS	5.000	01/01/2039	93.000 / 98.100	5.100	96.325 / 100.000	5	390
97710V-VN-5	WISCONSIN ST HEALTH & EDL FACS AUTH REV BEAVER DAM CMNTY HOSPS INC-A	6.000	08/15/2019	96.120 / 101.000	4.880		6	220
57420U-AK-1	MARYLAND ST ECONOMIC DEV CORP NURSING FAC MTG REV SR-RAVENWOOD HLTHCARE FAC-A	8.750	08/01/2027	68.191 / 73.000	4.809	73.500 / 77.700	13	471.806
13062T-Z6-4	CALIFORNIA ST PREREFUNDED	5.125	06/01/2031	103.500 / 108.136	4.636	108.507 / 108.636	19	5445+1

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)
79575E-AS-7	SALT VERDE FINL CORP GAS REV ARIZ SR	5.000	12/01/2037		80.229 / 97.250	17.021	3	105
181006-EA-1	CLARK CNTY NEV PASSENGER FAC CHARGE REV AMT-LAS VEGAS-MCCARRAN-A-1	5.000	07/01/2023	97.712 / 97.712	94.195 / 101.000	6.805	32	2375+4
59333P-AW-8	MIAMI-DADE CNTY FLA AVIATION REV AMT-REF-SER A	5.000	10/01/2024	89.510 / 89.510	93.599 / 100.000	6.401	9	210
777863-AT-8	ROSEVILLE CALIF NAT GAS FING AUTH GAS REV	5.000	02/15/2026		91.700 / 97.750	6.050	18	735
181006-EB-9	CLARK CNTY NEV PASSENGER FAC CHARGE REV AMT-LAS VEGAS-MCCARRAN-A-1	5.000	07/01/2024		92.849 / 98.898	6.049	28	2405+1
34073N-X9-6	FLORIDA HSG FIN CORP REV AMT-HOMEOWNER MTG-SER 1	4.700	07/01/2032		84.743 / 90.597	5.854	8	230+1
838810-BY-4	SOUTH MIAMI FLA HEALTH FACS AUTH HOSP REV BAPTIST HEALTH SO FLA GRP	5.000	08/15/2042		94.500 / 100.000	5.500	6	135
71781E-AX-3	PHILADELPHIA PA AUTH FOR INDL DEV ARPT REV PHILADELPHIA ARPT SYS PJ-SER A	5.125	07/01/2028	91.171 / 91.171	94.521 / 100.000	5.479	8	140
478497-NZ-9	JOHNSON CNTY KANS PUB BLDG COMMN LEASE PUR REV SER A	5.000	09/01/2028		100.000 / 105.426	5.426	3	1250
797300-YZ-7	SAN DIEGO CALIF REDEV AGY SUB-TAX ALLOC-HORTON PLAZA-A	5.050	11/01/2020		97.250 / 102.670	5.420	2	85

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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