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: 04/30/2008.

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)
650034-VS-7	NEW YORK ST URBAN DEV CORP REV ARS-CORRECTL FACS-SUB-SER B-3		01/01/2030	10.000 / 100.000	100.000 / 100.000	90.000	408	57125+22
505237-AH-0	LA VERNIA TEX HIGHER ED FIN CORP ED REV SOUTHWEST WINNERS FNDTN INC-A	5.000	02/15/2031	77.472 / 77.472	79.290 / 97.000	19.528	5	1300
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	73.875 / 73.875	73.965 / 89.220	15.345	6	75
592646-DZ-3	METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV SER A	5.250	10/01/2032	88.450 / 88.450	99.698 / 99.698	11.248	5	120
472653-AD-6	JEFFERSON CNTY ALA LTD OBLIG SCH WT SER A	5.000	01/01/2010	91.100 / 91.100	92.600 / 100.000	8.900	8	210
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	88.938 / 91.055	94.705 / 97.075	8.137	11	305
757593-EJ-3	REDLANDS CALIF REDEV AGY REF-TAX ALLOC-REDEV PJ-SER A	4.750	08/01/2021	94.724 / 94.724	102.854 / 102.854	8.130	3	225
167592-YG-3	CHICAGO ILL O HARE INTL ARPT REV REF-GEN-AIRPORT-3RD LIEN-C-2	5.250	01/01/2034	87.569 / 90.962	94.246 / 95.257	7.688	12	480
118217-AU-2	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	5.875	06/01/2047	87.901 / 87.901	88.122 / 95.500	7.599	28	3995+2
646107-P5-5	NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY HSG REV AMT-SER A	5.050	05/01/2034	88.800 / 94.250	93.250 / 96.250	7.450	9	220

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)
650034-VS-7	NEW YORK ST URBAN DEV CORP REV ARS-CORRECTL FACS-SUB-SER B-3		01/01/2030	10.000 / 100.000	90.000	100.000 / 100.000	408	57125+22
642835-JF-0	NEW BRUNSWICK N J PKG AUTH REV GTD PKG-SER A	4.500	09/01/2028	88.757 / 97.614	8.857	92.857 / 92.857	4	25
646107-YP-1	NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY HSG REV AMT-SER A	5.150	11/01/2030	89.584 / 98.000	8.416	95.000 / 95.000	7	95
64579E-X7-6	NEW JERSEY HEALTH CARE FACS FING AUTH REV HLTH CARE FACS-GOOD SHEPHERD	5.200	07/01/2031	91.911 / 99.000	7.089		5	45+1
64579E-LL-8	NEW JERSEY HEALTH CARE FACS FING AUTH REV REF-HACKENSACK UNIV MED CTR-A	5.000	01/01/2028	93.929 / 99.943	6.014	99.567 / 99.567	4	95
73358T-FT-3	PORT AUTH N Y & N J CONS-ONE HUNDRED THIRTY SIXTH	5.125	05/01/2034	89.750 / 95.238	5.488		2	10
646107-P5-5	NEW JERSEY ST HSG & MTG FIN AGY MULTI-FAMILY HSG REV AMT-SER A	5.050	05/01/2034	88.800 / 94.250	5.450	93.250 / 96.250	9	220
641667-GN-4	NEW ALBANY FLOYD CNTY IND SCH BLDG CORP FIRST MTG	5.125	01/15/2027	102.300 / 107.621	5.321	105.582 / 107.937	5	280
343136-MM-6	FLORIDA ST TPK AUTH TPK REV DEPT TRANSN-SER A	4.500	07/01/2027	93.838 / 99.000	5.162	96.872 / 96.872	5	1045
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	87.595 / 92.575	4.980		5	65

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)
505237-AH-0	LA VERNIA TEX HIGHER ED FIN CORP ED REV SOUTHWEST WINNERS FNDTN INC-A	5.000	02/15/2031	77.472 / 77.472	79.290 / 97.000	17.710	5	1300
472682-MD-2	JEFFERSON CNTY ALA SWR REV UNREFUNDED BALANCE-WTS-SER A	5.375	02/01/2027	73.875 / 73.875	73.965 / 89.220	15.255	6	75
472653-AD-6	JEFFERSON CNTY ALA LTD OBLIG SCH WT SER A	5.000	01/01/2010	91.100 / 91.100	92.600 / 100.000	7.400	8	210
118217-AU-2	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	5.875	06/01/2047	87.901 / 87.901	88.122 / 95.500	7.378	28	3995+2
79575E-AS-7	SALT VERDE FINL CORP GAS REV ARIZ SR	5.000	12/01/2037	89.004 / 89.004	89.752 / 95.400	5.648	36	1840+1
514136-AD-2	LANCASTER EDL ASSISTANCE PROGRAM INC. SOUTH CAROLINA SCH DIST LANCASTER CNTY PROJ	5.000	12/01/2026	94.345 / 94.345	94.445 / 100.000	5.555	3	25+2
59465M-RF-4	MICHIGAN ST HSG DEV AUTH RENTAL HSG REV AMT-SER B	4.800	10/01/2032		90.033 / 95.160	5.127	5	75
76221R-CJ-0	RHODE ISLAND HSG & MTG FIN CORP AMT-HOMEOWNERSHIP OPPTY-57-B	5.350	10/01/2037		96.829 / 101.750	4.921	8	250
18085P-HN-7	CLARK CNTY NEV ARPT REV SUB LIEN-SER A-2	5.000	07/01/2040		95.831 / 100.750	4.919	51	2870+1
38122N-AQ-5	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.750	06/01/2039	112.250 / 112.250	112.024 / 116.644	4.620	7	280

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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