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: 05/02/2008.

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)
898526-DA-3	TSASC INC N Y REV SER 1	5.125	06/01/2042	86.840 / 86.840	99.750 / 99.795	12.955	6	135
544663-8R-1	LOS ANGELES CNTY CALIF CTFS PARTN FOR FUTURE ISSUES SEE DISNEY PARKING REF PROJ	4.750	03/01/2023	90.317 / 90.317	100.293 / 100.380	10.063	4	35
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	93.160 / 93.160	95.660 / 101.420	8.260	3	30
735000-DU-2	PORT OAKLAND CALIF REV AMT-SER L	5.000	11/01/2032	89.000 / 90.000	93.955 / 97.250	8.250	6	175
789162-CW-2	ST CLOUD MINN HOSP FACS REV REF-ST CLOUD HOSP-SER A	5.000	07/01/2015	76.500 / 76.500	84.500 / 84.500	8.000	4	4
797652-6Z-2	SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV REF-SEC SER-ISSUE 20	4.500	05/01/2026	92.250 / 92.840	99.999 / 99.999	7.749	5	80
790905-DU-4	ST LOUIS CNTY MO INDL DEV AUTH REV REF-1ST MTG-DASAL CARING-SER A	7.750	12/01/2016	85.000 / 85.000	92.500 / 92.500	7.500	5	25
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	90.800 / 92.080	93.316 / 97.990	7.190	13	315
130628-X8-8	CALIFORNIA ST REF	4.250	10/01/2026	90.267 / 90.267	97.183 / 97.183	6.916	2	40
888808-DE-9	TOBACCO SETTLEMENT FING CORP N J SR-SER 1A	4.750	06/01/2034	76.750 / 77.000	81.000 / 83.617	6.867	4	305

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)
896027-CM-9	TRIBOROUGH BRDG & TUNL AUTH N Y CONVENTION CTR PROJ SER E	7.250	01/01/2010	102.465 / 106.450	3.985		5	50
167592-WL-4	CHICAGO ILL O HARE INTL ARPT REV REF-GEN ARPT THIRD LIEN-SER A	5.375	01/01/2032	93.700 / 97.662	3.962	100.000 / 100.500	10	340
825440-AJ-9	SHREVEPORT LA CTFS INDBT REF-SER A	5.250	10/01/2010	100.125 / 103.969	3.844		2	20
64983R-Q5-9	NEW YORK ST DORM AUTH REVS ST SUPPORTED DEBT UNREFUNDED-UPSTATE CMNTY-A	5.000	07/01/2028	96.500 / 100.216	3.716		4	20
544646-DQ-2	LOS ANGELES CALIF UNI SCH DIST REF-SER A-1	4.500	07/01/2025	94.390 / 98.000	3.610	99.500 / 100.750	39	5090
179027-ST-5	CLACKAMAS CNTY ORE HOSP FAC AUTH REV REF-LEGACY HEALTH SYS	5.250	05/01/2021	98.623 / 101.749	3.126	103.073 / 103.073	5	45
658196-QG-8	NORTH CAROLINA EASTN MUN PWR AGY PWR SYS REV REF-SER B-FGIC-TCRS	5.500	01/01/2021	96.193 / 99.300	3.107		6	147
13062P-PT-3	CALIFORNIA ST	5.000	02/01/2029	107.081 / 109.740	2.659	108.656 / 109.740	8	260
235036-JZ-4	DALLAS FORT WORTH TEX INTL ARPT REV IMPT-JT-SER B	5.000	11/01/2035	91.087 / 93.590	2.503	96.500 / 97.090	10	115
38122N-AQ-5	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.750	06/01/2039	112.717 / 115.081	2.364		6	860

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)
745145-ZG-0	PUERTO RICO COMWLTH REF-PUB IMPT-SER A-MBIA IBC	5.500	07/01/2015	106.688 / 106.688	103.400 / 109.188	5.788	4	220
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	93.160 / 93.160	95.660 / 101.420	5.760	3	30
73358T-FT-3	PORT AUTH N Y & N J CONS-ONE HUNDRED THIRTY SIXTH	5.125	05/01/2034		92.825 / 98.237	5.412	2	10
64966G-4L-3	NEW YORK N Y SUBSER L-1	4.700	04/01/2029		98.032 / 103.307	5.275	28	940
880443-BS-4	TENNESSEE ENERGY ACQUISITION CORP GAS REV SER A	5.250	09/01/2026	95.353 / 95.466	95.466 / 100.580	5.114	26	1155+4
38122N-PA-4	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SR-SER A-1	5.750	06/01/2047		91.839 / 96.521	4.682	22	1930
235036-FW-5	DALLAS FORT WORTH TEX INTL ARPT REV JT-SER A-AMBAC	5.000	11/01/2032	90.800 / 92.080	93.316 / 97.990	4.674	13	315
249189-CF-6	DENVER COLO CONVENTION CTR HOTEL AUTH REV REF-SR	5.000	12/01/2035	93.785 / 93.785	92.942 / 97.542	4.600	12	490
645913-AA-2	NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER A	7.425	02/15/2029		116.750 / 121.333	4.583	4	109
186406-FR-0	CLEVELAND OHIO ST UNIV GEN RCPT	4.750	06/01/2033	98.412 / 98.412	98.802 / 103.221	4.419	46	1950

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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