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: 06/19/2008.

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)
612043-GC-7	MONTANA FAC FIN AUTH HEALTH CARE FACS REV MASTER LN PG-GLENDIVE MED PJ-A	4.750	07/01/2028	4.867 / 4.867	99.361 / 100.000	95.133	7	360
838536-DK-3	SOUTH JERSEY TRANSN AUTH N J TRANSN SYS REV SER A	4.500	11/01/2035	88.575 / 88.575	100.000 / 100.000	11.425	2	70
433866-CK-4	HOBBS N MEX MUN SCH DIST NO 16 SCH BLDG	5.250	07/15/2014	100.000 / 100.000	109.651 / 109.651	9.651	2	200
44420P-AA-2	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A-MBIA	4.500	02/15/2047	85.310 / 90.220	92.925 / 94.500	9.190	7	915
64469D-GY-1	NEW HAMPSHIRE ST HSG FIN AUTH SINGLE FAMILY MTG REV AMT-ACQUISITION-SER A	5.350	07/01/2040	90.250 / 90.250	98.940 / 98.940	8.690	8	160
498622-GA-1	KLICKITAT CNTY WASH PUB UTIL DIST NO 001 ELEC REV REF-SER B	5.000	12/01/2031	90.130 / 90.130	98.638 / 98.638	8.508	5	130
793556-BN-0	ST TAMMANY PARISH LA HOSP SVC DIST NO 1 HOSP REV REF-ST TAMMANY PARISH HOSP PJ	5.000	07/01/2028	87.000 / 87.000	95.140 / 95.140	8.140	4	60
235035-AK-8	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	6.000	11/01/2014	63.000 / 66.250	65.000 / 71.000	8.000	8	80
88880P-AC-8	TOBACCO SETTLEMENT FING CORP LA REV ASSET-BKD-SER B	5.875	05/15/2039	85.359 / 85.359	93.000 / 93.000	7.641	4	80
198045-DW-3	COLUMBIA MO SPL OBLIG REF & IMPT-SER B	5.000	02/01/2016	99.724 / 99.724	99.724 / 107.204	7.480	5	100

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)
454912-AX-4	INDIANA ST DEV FIN AUTH ENVIRONMENTAL REV AMR-REF-PSI ENERGY INC PROJ	4.500	07/01/2035	80.963 / 100.000	19.037		4	35
888806-AC-0	TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B	6.375	05/15/2028	100.000 / 110.370	10.370		4	30+1
66285W-AJ-5	NORTH TEX TWY AUTH REV REF-SYS-FIRST TIER-SER A	5.500	01/01/2017	94.648 / 104.150	9.502		2	200
452001-FN-5	ILLINOIS EDL FACS AUTH REVS CAP APPREC-PREREFUNDED	0.000	07/01/2014	59.489 / 66.797	7.308		8	450
59333P-EH-7	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL ARPT-SER A	4.750	10/01/2027	84.000 / 89.006	5.006		4	90
44420P-AA-2	HUDSON YDS INFRASTRUCTURE CORP N Y REV SER A-MBIA	4.500	02/15/2047	85.310 / 90.220	4.910	92.925 / 94.500	7	915
056559-AM-9	BADGER TOB ASSET SECURITIZATION CORP WIS TOB ASSET-BKD	6.375	06/01/2032	97.020 / 100.770	3.750	100.248 / 100.248	9	590
59333P-BT-4	MIAMI-DADE CNTY FLA AVIATION REV AMT-SER C	5.000	10/01/2028	90.749 / 94.382	3.633		3	30
254839-R6-2	DISTRICT COLUMBIA REV CATHOLIC UNIV OF AMERICA	5.000	10/01/2029	94.000 / 97.553	3.553	98.654 / 98.654	7	175
657902-XR-8	NORTH CAROLINA MED CARE COMMN HEALTH CARE FACS REV WAKEMED PJ	5.000	10/01/2032	94.250 / 97.751	3.501	99.000 / 99.000	6	100

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)
198045-DW-3	COLUMBIA MO SPL OBLIG REF & IMPT-SER B	5.000	02/01/2016	99.724 / 99.724	99.724 / 107.204	7.480	5	100
901580-BL-3	TWIN FALLS CNTY IDAHO SCH DIST NO 413 FILER	4.125	03/15/2020		101.033 / 108.456	7.423	7	660
658196-T5-9	NORTH CAROLINA EASTN MUN PWR AGY PWR SYS REV REF-TAXABLE-SER B	4.540	01/01/2009	100.070 / 100.070	100.274 / 107.383	7.109	4	600
645918-MY-6	NEW JERSEY ECONOMIC DEV AUTH REV SCH FAC CONSTR-T-3-RMKT 4/30/8	5.000	09/01/2020		100.000 / 106.738	6.738	7	2500
235035-AK-8	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	6.000	11/01/2014	63.000 / 66.250	65.000 / 71.000	6.000	8	80
59259R-WK-6	METROPOLITAN TRANSN AUTH N Y REV SER B	5.250	11/15/2019	105.809 / 105.809	106.109 / 111.537	5.428	3	130
59259R-U9-3	METROPOLITAN TRANSN AUTH N Y REV TRANSN-SER B-FSA-CR	4.500	11/15/2036		94.630 / 100.000	5.370	4	180
160853-KQ-9	CHARLOTTE-MECKLENBURG HOSP AUTH N C HEALTH CARE SYS REV REF-CAROLINAS-SER A	5.000	01/15/2019	100.788 / 100.788	102.087 / 106.889	4.802	7	875
49228M-CR-3	KERN CNTY CALIF WTR AGY IMPT DIST NO 4 WTR REV CTFS PARTN SER A	5.000	05/01/2033		100.000 / 104.546	4.546	17	840
745291-RL-0	PUERTO RICO PUB FIN CORP COMWLTH APPROP-SER A	5.250	08/01/2029	100.709 / 100.709	100.806 / 105.295	4.489	14	1105+2

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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