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: 06/03/2008.

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)
115015-FQ-7	BROWARD CNTY FLA EDL FACS AUTH REV EDL FACS-NOVA SOUTHEASTERN	4.500	04/01/2036	89.525 / 97.440	98.500 / 98.500	8.975	4	755
605277-AB-8	MISSISSIPPI BUSINESS FIN CORP MISS POLLUTN CTL REV SYS ENERGY RES INC PJ	5.875	04/01/2022	93.752 / 93.752	102.612 / 102.612	8.860	4	30
415669-BK-5	HARRISONBURG VA INDL DEV AUTH HOSP REV FACS-ROCKINGHAM MEM HOSP	4.500	08/15/2039	85.720 / 85.720	94.213 / 94.213	8.493	4	20
797415-ER-3	SAN DIEGO CNTY CALIF WTR AUTH WTR REV CTFS PARTN SER A	4.500	05/01/2024	93.870 / 93.870	102.250 / 102.250	8.380	3	85
249189-CF-6	DENVER COLO CONVENTION CTR HOTEL AUTH REV REF-SR	5.000	12/01/2035	89.070 / 94.749	95.239 / 97.286	8.216	7	570
25457V-AC-0	DIRECTOR ST NEV DEPT BUSINESS & INDUSTRY LAS VEGAS MONORAIL PJ-1ST TIER	5.375	01/01/2040	81.260 / 81.260	89.194 / 89.194	7.934	7	140
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	92.740 / 96.749	94.801 / 100.662	7.922	18	535
167592-YG-3	CHICAGO ILL O HARE INTL ARPT REV REF-GEN-AIRPORT-3RD LIEN-C-2	5.250	01/01/2034	91.776 / 96.610	99.610 / 99.610	7.834	8	300
13062T-H6-4	CALIFORNIA ST REF	4.500	08/01/2030	91.370 / 96.858	96.500 / 99.204	7.834	12	455
249189-CE-9	DENVER COLO CONVENTION CTR HOTEL AUTH REV REF-SR	5.000	12/01/2030	90.018 / 90.018	97.765 / 97.765	7.747	8	2085

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)
115015-FQ-7	BROWARD CNTY FLA EDL FACS AUTH REV EDL FACS-NOVA SOUTHEASTERN	4.500	04/01/2036	89.525 / 97.440	7.915	98.500 / 98.500	4	755
59333P-EE-4	MIAMI-DADE CNTY FLA AVIATION REV SER A	5.000	10/01/2033	91.512 / 97.300	5.788	95.252 / 98.966	23	280
249189-CF-6	DENVER COLO CONVENTION CTR HOTEL AUTH REV REF-SR	5.000	12/01/2035	89.070 / 94.749	5.679	95.239 / 97.286	7	570
13062T-H6-4	CALIFORNIA ST REF	4.500	08/01/2030	91.370 / 96.858	5.488	96.500 / 99.204	12	455
167592-YG-3	CHICAGO ILL O HARE INTL ARPT REV REF-GEN-AIRPORT-3RD LIEN-C-2	5.250	01/01/2034	91.776 / 96.610	4.834	99.610 / 99.610	8	300
07202A-AQ-1	BAY AREA INFRASTRUCTURE FING AUTH CALIF ST PMT ACCELERATION NTS	5.000	08/01/2017	100.598 / 104.789	4.191	103.448 / 106.572	12	1075
646136-EC-1	NEW JERSEY ST TRANSN TR FD AUTH TRANSN SYS-SER A	5.500	12/15/2021	108.000 / 112.022	4.022		6	105
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	92.740 / 96.749	4.009	94.801 / 100.662	18	535
59469C-5S-8	MICHIGAN ST STRATEGIC FD LTD OBLIG REV ADJ-REF-DOW CHEMICAL PJ-A-2	5.500	12/01/2028	98.415 / 102.420	4.005		2	85
681793-U9-4	OMAHA PUB PWR DIST NEB ELEC REV SYS-SUB	4.500	02/01/2041	88.000 / 91.716	3.716	93.841 / 93.841	7	160

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)
036474-AM-6	ANSON TEX ED FACS CORP STUDENT HSG REV UNIV OF TEX-WATERVIEW PK PJ	5.000	01/01/2023		84.335 / 94.335	10.000	2	45
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	92.740 / 96.749	94.801 / 100.662	5.861	18	535
45200F-JC-4	ILLINOIS FIN AUTH REV RESURRECTION HLTH-A-RMK 6/5/08	4.250	05/15/2019	97.014 / 97.014	97.014 / 102.714	5.700	32	3015
34281T-BZ-7	FLORIDA ST ED SYS HSG REV FLA ST UNIV FAC-SER A	4.500	05/01/2034	88.532 / 91.528	90.532 / 95.750	5.218	5	300
888808-DF-6	TOBACCO SETTLEMENT FING CORP N J SR-SER 1A	5.000	06/01/2041	76.011 / 77.190	77.190 / 82.000	4.810	24	2555+3
05155X-BS-7	AURORA COLO HOSP REV CHILDRENS HOSP-D-RMKT 06/09/08	5.000	12/01/2033		99.286 / 104.000	4.714	14	295
561842-PJ-8	MANATEE CNTY FLA HSG FIN AUTH MTG REV SINGLE FAMILY PROG-SER A	5.050	05/01/2039		93.500 / 98.156	4.656	3	50
109754-BS-9	BRISTOL BORO PA SCH DIST	4.250	03/01/2031	95.808 / 95.808	93.765 / 98.070	4.305	8	180
52480G-AY-0	LEHIGH CNTY PA GEN PURP AUTH HOSP REV LEHIGH VY HEALTH NETWORK-SER A	4.750	07/01/2038		98.600 / 102.850	4.250	40	1270
118217-AT-5	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	6.500	06/01/2047	92.410 / 92.410	93.469 / 97.675	4.206	75	3405

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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