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: 06/16/2008.

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)
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	89.230 / 94.657	96.880 / 98.744	9.514	25	795
34160W-MW-1	FLORIDA ST DEPT ENVIRONMENTAL PROTN REV FLORIDA FOREVER-SER A	4.375	07/01/2026	89.596 / 93.250	92.596 / 98.637	9.041	8	165
89602N-KN-3	TRIBOROUGH BRDG & TUNL AUTH N Y REVS GEN-SER A	5.000	11/15/2020	105.061 / 105.061	113.547 / 113.547	8.486	2	20
745266-BD-7	PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX SER A	4.500	07/01/2036	84.072 / 84.072	92.302 / 92.302	8.230	2	280
92812U-QF-8	VIRGINIA ST HSG DEV AUTH COMWLTH MTG SUBSER D-3	4.550	04/01/2023	91.820 / 96.444	94.820 / 100.000	8.180	6	165
79727L-AT-6	SAN DIEGO CALIF CONVENTION CTR EXPANSION FING AUTH LEASE REV SER A	4.750	04/01/2028	91.980 / 97.250	100.000 / 100.000	8.020	7	120
610208-BN-9	MONONGALIA CNTY W VA BLDG COMMN HOSP REV MONONGALIA GEN HOSP-SER A	5.000	07/01/2030	92.250 / 92.250	100.000 / 100.000	7.750	3	55
586169-BZ-6	MEMPHIS TENN HEALTH EDL & HSG FAC BRD MULTIFAMILY HSG REV PRESCOTT PLACE APTS PROJ	5.125	05/01/2038	92.000 / 96.750	95.761 / 99.694	7.694	7	535
71781E-AX-3	PHILADELPHIA PA AUTH FOR INDL DEV ARPT REV PHILADELPHIA ARPT SYS PJ-SER A	5.125	07/01/2028	91.942 / 91.942	99.116 / 99.366	7.424	6	195
544663-8R-1	LOS ANGELES CNTY CALIF CTFS PARTN FOR FUTURE ISSUES SEE DISNEY PARKING REF PROJ	4.750	03/01/2023	90.120 / 90.120	91.170 / 97.412	7.292	3	20

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)
944314-GD-9	WAYNE CHARTER CNTY MICH ARPT REV AMT-DETROIT MET WAYNE CNTY-A	5.000	12/01/2028	89.230 / 94.657	5.427	96.880 / 98.744	25	795
79727L-AT-6	SAN DIEGO CALIF CONVENTION CTR EXPANSION FING AUTH LEASE REV SER A	4.750	04/01/2028	91.980 / 97.250	5.270	100.000 / 100.000	7	120
745145-QB-1	PUERTO RICO COMWLTH PUB IMPT	5.750	07/01/2026	100.419 / 105.398	4.979	105.141 / 105.141	5	425
586169-BZ-6	MEMPHIS TENN HEALTH EDL & HSG FAC BRD MULTIFAMILY HSG REV PRESCOTT PLACE APTS PROJ	5.125	05/01/2038	92.000 / 96.750	4.750	95.761 / 99.694	7	535
92812U-QF-8	VIRGINIA ST HSG DEV AUTH COMWLTH MTG SUBSER D-3	4.550	04/01/2023	91.820 / 96.444	4.624	94.820 / 100.000	6	165
34160W-MW-1	FLORIDA ST DEPT ENVIRONMENTAL PROTN REV FLORIDA FOREVER-SER A	4.375	07/01/2026	89.596 / 93.250	3.654	92.596 / 98.637	8	165
249181-WD-6	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2025	93.546 / 97.000	3.454		3	55
38122N-AQ-5	GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV ASSET-BKD-SER A-1	6.750	06/01/2039	111.045 / 114.307	3.262	112.820 / 115.130	7	615
487692-7G-4	KELLER TEX INDPT SCH DIST UNREFUNDED BAL-REF	5.250	08/15/2026	97.289 / 100.472	3.183	99.914 / 102.472	6	50
798111-DS-6	SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV REF-SER A	5.375	01/15/2029	96.630 / 99.800	3.170	100.000 / 100.750	11	200

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)
235241-JD-9	DALLAS TEX AREA RAPID TRAN SALES TAX REV SR LIEN	5.000	12/01/2012		3.230 / 107.263	104.033	5	650
544663-8R-1	LOS ANGELES CNTY CALIF CTFS PARTN FOR FUTURE ISSUES SEE DISNEY PARKING REF PROJ	4.750	03/01/2023	90.120 / 90.120	91.170 / 97.412	6.242	3	20
34160W-MW-1	FLORIDA ST DEPT ENVIRONMENTAL PROTN REV FLORIDA FOREVER-SER A	4.375	07/01/2026	89.596 / 93.250	92.596 / 98.637	6.041	8	165
659154-3X-4	NORTH EAST INDPT SCH DIST TEX PREREFUNDED	4.500	10/01/2028	101.963 / 101.963	102.713 / 108.363	5.650	4	120
592646-AX-1	METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV AMT-SER A	5.000	10/01/2031	91.000 / 91.000	92.940 / 98.256	5.316	6	100
888808-DF-6	TOBACCO SETTLEMENT FING CORP N J SR-SER 1A	5.000	06/01/2041	76.660 / 76.660	77.585 / 82.851	5.266	12	1335
92812U-QF-8	VIRGINIA ST HSG DEV AUTH COMWLTH MTG SUBSER D-3	4.550	04/01/2023	91.820 / 96.444	94.820 / 100.000	5.180	6	165
492245-CC-7	KERN CALIF CMNTY COLLEGE DIST CTFS PARTN RMKT 06/05/08	4.625	03/01/2025		95.500 / 100.265	4.765	4	125
724787-AR-7	PITTSBURGH & ALLEGHENY CNTY PA PUB AUD AUTH EXCISE TAX REV HOTEL ROOM	4.500	02/01/2029	99.000 / 99.000	96.000 / 100.496	4.496	3	38
160853-MQ-7	CHARLOTTE-MECKLENBURG HOSP AUTH N C HEALTH CARE SYS REV REF-CAROLINAS HEALTHCARE-SER A	5.000	01/15/2047		95.563 / 100.000	4.437	33	2550

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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