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: 06/06/2008.

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)
44420P-AA-2	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A-MBIA	4.500	02/15/2047	86.637 / 91.899	98.320 / 98.320	11.683	3	135
442348-T7-3	HOUSTON TEX ARPT SYS REV SUB LIEN-SER A	5.125	07/01/2032	91.396 / 91.396	100.000 / 100.000	8.604	4	40
267046-DZ-0	DUTCHESS CNTY N Y RESOURCE RECOVERY AGY REV SOLID WASTE SYS-SER B	4.500	01/01/2027	89.212 / 89.212	97.340 / 97.340	8.128	7	230
118217-AU-2	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	5.875	06/01/2047	81.381 / 81.381	88.977 / 89.253	7.872	4	240
207904-DP-5	CONNECTICUT ST ARPT REV AMT-BRADLEY INTL ARPT-SER A	5.125	10/01/2031	91.500 / 91.500	99.015 / 99.015	7.515	3	35
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	92.425 / 94.500	99.750 / 99.750	7.325	4	45
71781E-AX-3	PHILADELPHIA PA AUTH FOR INDL DEV ARPT REV PHILADELPHIA ARPT SYS PJ-SER A	5.125	07/01/2028	94.000 / 94.000	98.375 / 101.120	7.120	5	45
888809-AB-6	TOBACCO SETTLEMENT FING CORP RHODE IS ASSET BKD-SER A	6.125	06/01/2032	93.147 / 93.147	99.125 / 99.936	6.789	5	80
888808-DF-6	TOBACCO SETTLEMENT FING CORP N J SR-SER 1A	5.000	06/01/2041	75.421 / 76.500	78.625 / 81.750	6.329	22	735
968852-PE-7	WILL CNTY ILL SCH DIST NO 122 CAP APPREC-REF-SCH-SER D	0.000	11/01/2024	38.280 / 38.280	44.568 / 44.568	6.288	3	40.1

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)
57419N-KN-3	MARYLAND ST CMNTY DEV ADMIN DEPT HSG & CMNTY DEV AMT-RESIDENTIAL-SER H	5.350	09/01/2032	94.469 / 99.990	5.521		4	20
44420P-AA-2	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A-MBIA	4.500	02/15/2047	86.637 / 91.899	5.262	98.320 / 98.320	3	135
38122N-AP-7	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.250	06/01/2033	104.875 / 109.250	4.375		9	2170
649861-AK-7	NEW YORK ST HSG FIN AGY HOSP & NURSING HOME PROJ	7.000	11/01/2017	112.183 / 116.375	4.192		4	230
229694-DW-1	CUCAMONGA CALIF CNTY WTR DIST CTFS PARTN	5.000	09/01/2029	95.500 / 99.512	4.012		2	205
64970K-FS-1	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SER A	4.750	06/15/2031	96.121 / 100.000	3.879	100.750 / 100.750	4	155
64711M-TL-1	NEW MEXICO FIN AUTH REV PUB PROJ REVOLVING FD-SER A-1	2.800	06/01/2011	95.650 / 99.479	3.829		2	130
797652-M7-6	SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV AMT-SECOND SER-ISSUE 15A	5.000	05/01/2028	95.140 / 98.375	3.235	98.140 / 101.303	5	80
528828-RB-4	LEWISVILLE TEX INDPT SCH DIST PREREFUNDED-REF	5.250	08/15/2027	102.960 / 106.170	3.210	104.701 / 104.701	3	20+1
38122N-AQ-5	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.750	06/01/2039	110.625 / 113.828	3.203	114.487 / 115.203	4	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)
959215-BB-9	WESTERN PLACER CALIF UNI SCH DIST CTFS PARTN	4.750	08/01/2032	97.187 / 97.187	2.850 / 97.887	95.037	12	1625+1
34679T-CU-7	FORT BEND CNTY TEX LEVEE IMPT DIST NO 15	5.150	09/01/2025		88.000 / 100.000	12.000	8	480
657905-CS-2	NORTH CAROLINA MED CARE COMMN REV HLTH CARE HSG-ARC PROJS-SER A	5.500	10/01/2024		100.033 / 105.682	5.649	7	430
47938R-BA-5	JOHNSTON MEM HOSP AUTH N C MTG REV FHA INSD-JOHNSTON MEM HOSP PJ	5.250	10/01/2028		105.338 / 110.332	4.994	13	680
118217-AT-5	BUCKEYE OHIO TOB SETTLEMENT FING AUTH ASSET-BKD-SR-TURBO-SER A-2	6.500	06/01/2047		93.452 / 97.917	4.465	49	2675
64972F-UE-4	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SECOND GEN RESOLUTION-SER DD	4.500	06/15/2039	98.106 / 98.106	97.197 / 101.625	4.428	35	1995
605277-AB-8	MISSISSIPPI BUSINESS FIN CORP MISS POLLUTN CTL REV SYS ENERGY RES INC PJ	5.875	04/01/2022		98.200 / 102.610	4.410	3	30
880443-EC-6	TENNESSEE ENERGY ACQUISITION CORP GAS REV SER C	5.000	02/01/2024	94.432 / 94.432	95.600 / 99.994	4.394	47	7405+4
64972F-TY-2	NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV SECOND GEN RESOLUTION-SER DD	4.625	06/15/2031	98.330 / 98.550	98.950 / 103.125	4.175	32	2170
38122N-AR-3	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.625	06/01/2040	110.111 / 110.111	111.061 / 115.131	4.070	3	20

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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