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: 05/29/2008.

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)
575827-RV-4	MASSACHUSETTS ST CONS LN-SER C	5.250	08/01/2016	101.413 / 101.413	124.357 / 124.357	22.944	2	400
79765A-RD-0	SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV AMT-SECOND SER-ISSUE 26A	5.250	05/01/2030	91.324 / 91.324	101.302 / 101.302	9.978	3	15
167592-YG-3	CHICAGO ILL O HARE INTL ARPT REV REF-GEN-AIRPORT-3RD LIEN-C-2	5.250	01/01/2034	89.528 / 90.528	98.912 / 98.912	9.384	5	40
759136-NT-7	REGIONAL TRANSN DIST COLO SALES TAX REV REF-FASTRACKS PROJ-SER A	4.500	11/01/2036	90.186 / 90.186	99.444 / 99.444	9.258	5	80
54810C-KG-4	LOWER COLO RIV AUTH TEX REV REF	4.500	05/15/2029	91.290 / 91.290	94.790 / 100.003	8.713	3	35
68304A-BX-4	ONTARIO CALIF REDEV FING AUTH LEASE REV CAP PROJS	4.500	08/01/2036	88.387 / 88.387	96.625 / 96.625	8.238	2	70
64983Q-S7-5	NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT MEM SLOAN-KETTERING-SER 1	4.750	07/01/2035	93.592 / 93.592	100.000 / 101.750	8.158	12	220
343136-MM-6	FLORIDA ST TPK AUTH TPK REV DEPT TRANSN-SER A	4.500	07/01/2027	91.995 / 95.095	100.000 / 100.000	8.005	6	115
88880P-AC-8	TOBACCO SETTLEMENT FING CORP LA REV ASSET-BKD-SER B	5.875	05/15/2039	84.450 / 89.620	92.000 / 92.000	7.550	11	220
423540-AU-7	HEMET CALIF UNI SCH DIST CMNTY FACS DIST SPL TAX NO 2004-1	5.625	09/01/2035	86.820 / 86.820	94.357 / 94.357	7.537	6	105

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)
88880P-AC-8	TOBACCO SETTLEMENT FING CORP LA REV ASSET-BKD-SER B	5.875	05/15/2039	84.450 / 89.620	5.170	92.000 / 92.000	11	220
59333P-HR-2	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL AIRPORT-HUB-A	4.750	10/01/2036	84.150 / 89.091	4.941	87.100 / 89.288	8	165
688028-JU-4	OSCEOLA CNTY FLA SCH BRD CTFS PARTN	4.250	06/01/2025	90.192 / 94.527	4.335		5	250
451895-AN-6	ILLINOIS DEV FIN AUTH WTR FACS REV REF-CONSUMERS WTR CO-SER B	5.000	11/01/2032	86.850 / 91.000	4.150		2	10
451908-L6-2	ILLINOIS DEV FIN AUTH REV REF-CMNTY REHAB PROVIDERS-A	6.000	07/01/2015	96.445 / 100.500	4.055		5	50
796422-WN-9	SAN ANTONIO TEX WTR REV PREREFUNDED-REF	6.000	05/15/2016	103.500 / 107.500	4.000		6	60
167592-YF-5	CHICAGO ILL O HARE INTL ARPT REV REF-GEN-AIRPORT-3RD LIEN-C-2	5.250	01/01/2030	94.297 / 97.920	3.623	100.308 / 100.500	9	235
469485-GX-8	JACKSONVILLE FLA SALES TAX REV	4.500	10/01/2030	90.710 / 94.252	3.542	94.110 / 94.110	4	55
451908-3D-7	ILLINOIS DEV FIN AUTH REV CMNTY REHAB PROVIDERS-A	5.700	07/01/2019	97.500 / 101.000	3.500		3	85
400653-FM-8	GUAM PWR AUTH REV SER A-MBIA IBC	5.250	10/01/2034	98.000 / 101.343	3.343	102.543 / 103.043	6	120

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)
646065-NK-4	NEW JERSEY ST EDL FACS AUTH REV REF-MONTCLAIR ST-SER J-BHAC	3.750	07/01/2026		89.300 / 94.587	5.287	21	1150
54810C-KG-4	LOWER COLO RIV AUTH TEX REV REF	4.500	05/15/2029	91.290 / 91.290	94.790 / 100.003	5.213	3	35
118217-AT-5	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	6.500	06/01/2047	91.750 / 93.344	93.344 / 98.511	5.167	60	4010+2
645918-SB-0	NEW JERSEY ECONOMIC DEV AUTH REV SCH FACS CONSTR-SER Y	4.625	09/01/2028	97.977 / 98.250	98.000 / 102.875	4.875	42	3735
927781-DL-5	VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV PUB HIGHER ED FING PROG-SER A	3.500	09/01/2025		88.040 / 92.863	4.823	10	695
196473-Y9-7	COLORADO HEALTH FACS AUTH REV HOSP-NORTH COLO MED CTR	6.000	05/15/2020		100.000 / 104.710	4.710	4	205
796245-AA-6	SAN ANTONIO TEX CONVENTION CTR HOTEL FIN CORP CONTRACT REV AMT-EMPOWERMENT ZONE-SER A	5.000	07/15/2034		91.660 / 96.277	4.617	4	25
64972F-GK-6	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SECOND GEN RESOLUTION-SER AA	4.500	06/15/2037		97.375 / 101.875	4.500	40	1825
05155X-BS-7	AURORA COLO HOSP REV CHILDRENS HOSP-D-RMKT 06/09/08	5.000	12/01/2033		99.570 / 104.000	4.430	17	3155+3
64966D-QW-2	NEW YORK N Y SER D	5.000	11/01/2034	101.009 / 101.009	100.000 / 104.416	4.416	74	9510

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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