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: 04/14/2008.

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)
79846P-AW-6	SAN LEANNA ED FACS CORP HIGHER ED REV TEX SAINT EDWARDS UNIV PROJ	4.750	06/01/2032	83.320 / 83.320	98.390 / 98.390	15.070	4	65
121342-KR-9	BURKE CNTY GA DEV AUTH POLLUTN CTL REV GA PWR CO PLT VOGTLE-1ST SER	4.750	05/01/2034	88.361 / 96.940	99.500 / 100.000	11.639	17	1690
546398-DJ-4	LOUISIANA PUB FACS AUTH REV OCHSNER CLINIC FNDTN PJ-SER B	5.500	05/15/2032	106.000 / 112.536	116.348 / 116.348	10.348	7	155
13067J-AW-1	CALIFORNIA ST ECONOMIC RECOVERY MBIA-SER A	5.000	07/01/2011	97.825 / 107.321	107.395 / 107.991	10.166	10	2215+2
25457V-AN-6	DIRECTOR ST NEV DEPT BUSINESS & INDUSTRY CAP APPREC-LAS VEGAS MONORAIL	0.000	01/01/2016	50.113 / 50.113	60.181 / 60.181	10.068	3	75
745235-VT-5	PUERTO RICO PUB BLDGS AUTH REV GTD REF-GOVT FACS-SER J	5.000	07/01/2036	94.500 / 102.430	103.923 / 103.923	9.423	7	750
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	88.196 / 88.196	97.197 / 97.197	9.001	4	40
592247-H6-0	METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV MCCORMICK PLACE EXPANSION-A	5.000	12/15/2028	101.126 / 101.126	100.671 / 109.972	8.846	5	260
59333P-EE-4	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.000	10/01/2033	88.010 / 93.098	93.190 / 96.500	8.490	9	210
05922K-GT-0	BALTIMORE MD PROJ REV REF-WASTEWTR PROJS-SER A	5.125	07/01/2042	93.406 / 93.406	101.475 / 101.475	8.069	5	50

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)
167484-YR-9	CHICAGO ILL CAP APPREC-PROJ & REF-SER A	0.000	01/01/2014	20.106 / 78.882	58.776		2	+2
13067J-AW-1	CALIFORNIA ST ECONOMIC RECOVERY MBIA-SER A	5.000	07/01/2011	97.825 / 107.321	9.496	107.395 / 107.991	10	2215+2
121342-KR-9	BURKE CNTY GA DEV AUTH POLLUTN CTL REV GA PWR CO PLT VOGTLE-1ST SER	4.750	05/01/2034	88.361 / 96.940	8.579	99.500 / 100.000	17	1690
745235-VT-5	PUERTO RICO PUB BLDGS AUTH REV GTD REF-GOVT FACS-SER J	5.000	07/01/2036	94.500 / 102.430	7.930	103.923 / 103.923	7	750
59465E-PT-4	MICHIGAN ST HOSP FIN AUTH REV REF-HOSP-DETROIT MEDICAL GRP-A	5.250	08/15/2027	89.647 / 97.000	7.353		7	345
546398-DJ-4	LOUISIANA PUB FACS AUTH REV OCHSNER CLINIC FNDTN PJ-SER B	5.500	05/15/2032	106.000 / 112.536	6.536	116.348 / 116.348	7	155
686076-CY-4	OREGON ST ECONOMIC DEV REV VAR-GA-PACIFIC CORP-SER CLVII	6.350	08/01/2025	84.250 / 90.500	6.250		4	65
57652T-AW-7	MATAGORDA CNTY TEX NAV DIST NO 1 REV REF-RELIANT ENERGY INC-SER A	5.250	06/01/2026	96.000 / 102.036	6.036		5	95
70917N-LV-4	PENNSYLVANIA ST HIGHER EDL FACS AUTH REV TEMPLE UNIV-FIRST SER	5.000	07/15/2031	101.744 / 106.986	5.242		2	45
074027-AC-7	BEASLEY TEX HIGHER ED FIN CORP REV UPLIFT ED-SER A	4.625	12/01/2022	76.880 / 82.056	5.176	79.880 / 82.056	5	150

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)
616012-AV-2	MOORESTOWN TWP NJ FIRE DIST NO 1 SER A	4.000	03/01/2013		95.000 / 104.370	9.370	4	76
592247-H6-0	METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV MCCORMICK PLACE EXPANSION-A	5.000	12/15/2028	101.126 / 101.126	100.671 / 109.972	9.301	5	260
574217-C6-0	MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV MEDSTAR HEALTH	5.250	05/15/2046		90.599 / 97.551	6.952	18	1435+1
13062T-H2-3	CALIFORNIA ST REF	4.500	08/01/2026	94.519 / 94.519	95.769 / 101.445	5.676	13	260
246395-PM-3	DELAWARE ST HSG AUTH REV AMT-SR SINGLE FAMILY MTG-C-1	5.100	01/01/2039	95.606 / 95.606	93.000 / 98.466	5.466	4	275+1
54241A-AW-3	LONG BEACH CALIF BD FIN AUTH NAT GAS PUR REV SER A	5.500	11/15/2030	94.800 / 94.800	93.847 / 99.124	5.277	89	10045+1
64972H-DR-0	NEW YORK N Y CITY TRANSITIONAL FIN AUTH BLDG AID REV SER S-2	4.250	01/15/2034	91.941 / 92.315	92.700 / 97.022	4.322	23	1255
44420P-AC-8	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A	5.000	02/15/2047		99.775 / 104.000	4.225	19	1650
55072Q-AC-3	LUZERNE CNTY PA INDL DEV AUTH WTR FAC REV REF-PA-AMERN WTR CO-SER B	4.950	09/01/2034		99.750 / 103.941	4.191	36	1900
576000-FF-5	MASSACHUSETTS ST SCH BLDG AUTH DEDICATED SALES TAX REV SER A	4.750	08/15/2032	99.550 / 99.550	100.000 / 103.968	3.968	7	3035

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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