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: 06/24/2008.

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)
745266-BD-7	PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX SER A	4.500	07/01/2036	81.000 / 85.044	92.500 / 92.500	11.500	4	75
341422-SU-8	FLORIDA ST BRD ED CAP OUTLAY REF-PUB ED-SER D	4.500	06/01/2024	89.000 / 89.000	92.000 / 99.975	10.975	5	50
251255-5H-4	DETROIT MICH WTR SUPPLY SYS REV UNREFUNDED BAL-SECOND LIEN-B	5.000	07/01/2034	91.210 / 91.210	101.567 / 101.567	10.357	2	55
01852L-AB-6	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLS INC PROJ	7.000	12/01/2011	65.000 / 65.000	66.500 / 75.000	10.000	8	790
57586C-E2-7	MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV BERKLEE COLLEGE MUSIC-SER A	5.000	10/01/2037	90.463 / 98.000	93.663 / 100.205	9.742	7	700
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	86.661 / 93.000	94.050 / 96.000	9.339	9	275
798111-CD-0	SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV REF-SER A	5.250	01/15/2030	90.792 / 95.040	99.359 / 100.000	9.208	11	365
575898-AF-8	MASSACHUSETTS ST PORT AUTH SPL FACS REV DELTA AIR LINES INC PJ-SER A	5.500	01/01/2017	91.300 / 100.000	100.350 / 100.350	9.050	5	825
59333P-HS-0	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL AIRPORT-HUB-A	5.000	10/01/2036	81.460 / 87.910	90.378 / 90.378	8.918	9	805
57583R-JF-3	MASSACHUSETTS ST DEV FIN AGY REV SIMMONS COLL-SER H	5.250	10/01/2026	91.062 / 97.500	99.500 / 99.500	8.438	7	350

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)
575898-AF-8	MASSACHUSETTS ST PORT AUTH SPL FACS REV DELTA AIR LINES INC PJ-SER A	5.500	01/01/2017	91.300 / 100.000	8.700	100.350 / 100.350	5	825
57586C-E2-7	MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV BERKLEE COLLEGE MUSIC-SER A	5.000	10/01/2037	90.463 / 98.000	7.537	93.663 / 100.205	7	700
888806-AC-0	TOBACCO SETTLEMENT REV MGMT AUTH S C TOB SETTLEMENT REV SER B	6.375	05/15/2028	100.500 / 107.500	7.000	100.000 / 100.000	3	25
59333P-HS-0	MIAMI-DADE CNTY FLA AVIATION REV AMT-MIAMI INTL AIRPORT-HUB-A	5.000	10/01/2036	81.460 / 87.910	6.450	90.378 / 90.378	9	805
57583R-JF-3	MASSACHUSETTS ST DEV FIN AGY REV SIMMONS COLL-SER H	5.250	10/01/2026	91.062 / 97.500	6.438	99.500 / 99.500	7	350
249181-U3-0	DENVER COLO CITY & CNTY ARPT REV AMT-SER A	5.000	11/15/2031	86.661 / 93.000	6.339	94.050 / 96.000	9	275
797652-3N-2	SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV AMT-SECOND SER-ISSUE 18A	5.000	05/01/2029	86.730 / 92.896	6.166		3	65
577635-AH-8	MAURY CNTY TENN INDL DEV BRD POLLUTN CTL REV MULTI-MODAL-REF-SATURN CORP PJ	6.500	09/01/2024	74.256 / 80.080	5.824		4	175
402175-RX-3	GULF BREEZE FLA REV VAR-LOC-GOVT-LN-B-TEND 12/1/15	4.400	12/01/2015	85.280 / 90.375	5.095		6	1050
657902-X2-3	NORTH CAROLINA MED CARE COMMN HEALTH CARE FACS REV ADJ-REF-1ST MTG-PRESBYTERIAN-B	4.900	07/01/2031	93.100 / 98.130	5.030		4	30

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)
01852L-AB-6	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLS INC PROJ	7.000	12/01/2011	65.000 / 65.000	66.500 / 75.000	8.500	8	790
341422-SU-8	FLORIDA ST BRD ED CAP OUTLAY REF-PUB ED-SER D	4.500	06/01/2024	89.000 / 89.000	92.000 / 99.975	7.975	5	50
511678-LT-9	LAKELAND FLA ELEC & WTR REV	5.750	10/01/2019	99.500 / 99.500	100.000 / 107.500	7.500	6	70
733581-7Y-2	PORT AUTH N Y & N J CONS-132ND SER	5.000	09/01/2033		97.042 / 103.773	6.731	5	620
57586C-E2-7	MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV BERKLEE COLLEGE MUSIC-SER A	5.000	10/01/2037	90.463 / 98.000	93.663 / 100.205	6.542	7	700
64971P-FH-3	NEW YORK N Y CITY INDL DEV AGY REV YANKEE STADIUM PJ-PILOT	5.000	03/01/2046		94.230 / 100.520	6.290	32	1380
658196-QV-5	NORTH CAROLINA EASTN MUN PWR AGY PWR SYS REV UNREFUNDED BAL-SER A	6.500	01/01/2018	115.504 / 115.504	111.493 / 117.598	6.105	8	190
08527N-HB-5	BERNALILLO CNTY N MEX GROSS RCPTS TAX REV REF	5.250	10/01/2026	100.008 / 100.008	100.008 / 106.007	5.999	6	600
733581-SF-0	PORT AUTH N Y & N J CONS-ONE HUNDRED SIXTEENTH SER	4.250	10/01/2026	90.018 / 92.434	91.080 / 96.903	5.823	7	105
016059-BN-6	ALHAMBRA CALIF UNI SCH DIST ELECTION OF 2004-SER A	5.250	08/01/2022		100.133 / 105.755	5.622	9	1490

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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