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: 06/23/2008.

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)
575898-AL-5	MASSACHUSETTS ST PORT AUTH SPL FACS REV DELTA AIR LINES INC PJ-SER A	5.000	01/01/2027	73.527 / 75.930	88.094 / 88.094	14.567	6	35
592247-DC-1	METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV CAP APPREC-MCCORMICK PL EXPN-A	0.000	06/15/2020	37.400 / 52.560	51.671 / 51.671	14.271	5	75
163103-MV-3	CHELAN CNTY WASH PUB UTIL DIST NO 001 CONS REV AMT-CHELAN HYDRO-SER B	5.400	01/01/2036	84.807 / 95.580	98.580 / 98.580	13.773	5	100
373271-AA-3	GEORGIA LOC GOVT CTFS PARTN GRANTOR TR-SER A	4.750	06/01/2028	85.360 / 85.360	97.129 / 98.883	13.523	6	128
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	83.730 / 91.000	95.387 / 96.322	12.592	7	130
181004-DE-9	CLARK CNTY NEV INDL DEV REV SOUTHWEST GAS CORP PROJ-SER A	4.850	10/01/2035	81.191 / 81.191	86.500 / 92.704	11.513	5	145
95984R-AX-8	WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC REV	4.250	06/01/2039	83.350 / 91.000	94.100 / 94.100	10.750	6	340
442348-ZY-7	HOUSTON TEX ARPT SYS REV AMT-SUB LIEN-SER B	5.000	07/01/2025	85.008 / 91.602	94.375 / 95.579	10.571	12	415
672325-RS-8	OAKLAND CALIF UNI SCH DIST ALAMEDA CNTY ELECTION 2006	4.300	08/01/2026	84.900 / 84.900	95.426 / 95.426	10.526	6	80
43232V-CH-2	HILLSBOROUGH CNTY FLA SCH BRD CTFS PARTN MASTER LEASE PROG	5.000	07/01/2023	88.022 / 88.022	98.500 / 98.500	10.478	5	25

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)
592247-DC-1	METROPOLITAN PIER & EXPOSITION AUTH ILL DEDICATED ST TAX REV CAP APPREC-MCCORMICK PL EXPN-A	0.000	06/15/2020	37.400 / 52.560	15.160	51.671 / 51.671	5	75
163103-MV-3	CHELAN CNTY WASH PUB UTIL DIST NO 001 CONS REV AMT-CHELAN HYDRO-SER B	5.400	01/01/2036	84.807 / 95.580	10.773	98.580 / 98.580	5	100
95984R-AX-8	WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC REV	4.250	06/01/2039	83.350 / 91.000	7.650	94.100 / 94.100	6	340
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	86.500 / 93.800	7.300	96.903 / 96.903	4	70
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	83.730 / 91.000	7.270	95.387 / 96.322	7	130
64579E-2G-0	NEW JERSEY HEALTH CARE FACS FING AUTH REV FHA-JERSEY CITY MED CENTER	5.000	08/01/2031	93.500 / 100.600	7.100		5	1040
955639-DQ-9	WEST SACRAMENTO CALIF FING AUTH REV WTR SYS IMPT PJ	5.000	08/01/2028	85.844 / 92.913	7.069		5	40
74514L-RA-7	PUERTO RICO COMWLTH UNREFUNDED-PUB IMPT-MBIA IBC	4.750	07/01/2023	91.935 / 99.000	7.065	100.000 / 100.800	5	115
79765A-DW-3	SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV AMT-SECOND SER-ISSUE 23A	5.000	05/01/2030	83.310 / 90.011	6.701		4	20
442348-ZY-7	HOUSTON TEX ARPT SYS REV AMT-SUB LIEN-SER B	5.000	07/01/2025	85.008 / 91.602	6.594	94.375 / 95.579	12	415

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)
93974A-Q4-9	WASHINGTON ST MOTOR VEHICLE FUEL TAX-SER F	0.000	12/01/2021		5.073 / 49.080	44.007	2	30
13062R-LE-6	CALIFORNIA ST VAR PURP	4.750	06/01/2035		91.950 / 99.305	7.355	3	205
544495-MK-7	LOS ANGELES CALIF DEPT WTR & PWR REV PWR SYS-SUBSER A-1	5.000	07/01/2039		98.449 / 105.255	6.806	15	1900+2
64971P-FG-5	NEW YORK N Y CITY INDL DEV AGY REV YANKEE STADIUM PJ-PILOT	4.500	03/01/2039	86.133 / 86.133	86.733 / 93.250	6.517	4	60
181004-DE-9	CLARK CNTY NEV INDL DEV REV SOUTHWEST GAS CORP PROJ-SER A	4.850	10/01/2035	81.191 / 81.191	86.500 / 92.704	6.204	5	145
74526Q-KX-9	PUERTO RICO ELEC PWR AUTH PWR REV SER TT	5.000	07/01/2037	94.950 / 95.000	94.950 / 100.500	5.550	46	3665+4
71781E-CZ-6	PHILADELPHIA PA AUTH FOR INDL DEV ARPT REV PHILADELPHIA ARPT SYS PJ-SER A	5.250	07/01/2028		94.700 / 100.000	5.300	3	15
574300-FX-2	MARYLAND ST TRANSN AUTH TRANSN FACS PRJS REV	4.500	07/01/2037		92.384 / 97.577	5.193	4	70
345105-FR-6	FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV SR LIEN-SER A-MBIA IBC	5.000	01/01/2035		94.832 / 100.000	5.168	3	65
882762-AX-5	TEXAS ST TPK AUTH CENT TEX TPK SYS REV FIRST TIER-SER A	5.000	08/15/2042	96.500 / 96.500	95.000 / 99.993	4.993	22	1185

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.

Data provided by :