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: 06/25/2008.

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)
37855P-DW-9	GLENDALE WIS CMNTY DEV AUTH LEASE REV REF-CMNTY DEV-BAYSHORE-SER A	4.300	10/01/2027	70.673 / 70.673	94.355 / 94.355	23.682	3	20
72177N-AK-1	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV SER B	6.000	06/01/2017	86.750 / 86.750	99.000 / 99.000	12.250	4	18.222
72177N-AH-8	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV CAP APPREC-SER A	0.000	06/01/2009	88.500 / 88.500	99.000 / 99.000	10.500	4	0.992
72177N-AL-9	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV SER C	6.000	06/01/2017	88.500 / 88.500	99.000 / 99.000	10.500	4	0.444
72177N-AJ-4	PIMA CNTY ARIZ INDL DEV AUTH HEALTH CARE FACS REV CAP APPREC-SER A	0.000	06/01/2010	88.500 / 88.500	99.000 / 99.000	10.500	4	1.404
547055-BP-7	LOUISVILLE OHIO CITY SCH DIST	5.000	12/01/2029	89.760 / 95.560	100.000 / 100.000	10.240	4	40
592646-KG-7	METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV AMT-REF-SER A	5.000	10/01/2033	84.186 / 84.186	94.279 / 94.279	10.093	4	30
245913-FS-2	DELAWARE CNTY PA AUTH REV HLTH SYS-CATHOLIC HLTH EAST-A	4.875	11/15/2026	92.482 / 92.482	102.555 / 102.555	10.073	5	95
56036Y-BA-2	MAIN STR NAT GAS INC GA GAS PROJ REV SER A	5.000	03/15/2017	92.443 / 101.830	102.391 / 102.391	9.948	5	250
577630-BW-5	MAURY CNTY TENN HEALTH & EDL FACS BRD FIRST MTG REV ASCEND HEALTH CARE INC-SER A	8.250	06/01/2026	69.795 / 69.795	79.350 / 79.350	9.555	4	30

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)
56036Y-BA-2	MAIN STR NAT GAS INC GA GAS PROJ REV SER A	5.000	03/15/2017	92.443 / 101.830	9.387	102.391 / 102.391	5	250
295852-CG-0	ERNEST N MORIAL-NEW ORLEANS LA EXHIB HALL AUTH SPL TAX	5.200	07/15/2015	92.667 / 99.875	7.208	92.925 / 92.925	6	390
181004-CZ-3	CLARK CNTY NEV INDL DEV REV REF-SOUTHWEST GAS CORP PROJ-B	5.000	12/01/2033	82.299 / 88.466	6.167		5	80
547055-BP-7	LOUISVILLE OHIO CITY SCH DIST	5.000	12/01/2029	89.760 / 95.560	5.800	100.000 / 100.000	4	40
140427-AV-7	CAPITAL PROJS FIN AUTH FLA STUDENT HSG REV CAP PROJS LN PG-SR-F-1	5.000	10/01/2031	88.878 / 94.545	5.667	94.075 / 97.500	9	305
106214-DQ-9	BRAZOS RIVER AUTH TEX REV HOUSTON INDS INC PROJ-A	5.125	05/01/2019	95.170 / 100.797	5.627		4	260
733581-7Y-2	PORT AUTH N Y & N J CONS-132ND SER	5.000	09/01/2033	94.459 / 100.000	5.541		6	85
57585K-TZ-1	MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV UNREFUNDED BALANCE-CAREGROUP-A	5.000	07/01/2025	94.000 / 99.377	5.377		2	35
472902-JK-2	JEFFERSON CNTY KY HEALTH FACS REV UNREFUNDED BAL-ALLIANT HEALTH	5.125	10/01/2027	92.371 / 97.640	5.269	100.140 / 100.140	5	80
235036-EM-8	DALLAS FORT WORTH TEX INTL ARPT REV REF & IMPT-JT-SER A	5.000	11/01/2035	84.900 / 90.090	5.190	90.296 / 90.296	7	50

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)
645918-LR-2	NEW JERSEY ECONOMIC DEV AUTH REV SCH FAC CONSTR-J-4-RMKT 4/30/8	5.000	09/01/2029		105.413 / 116.987	11.574	3	400
13066Y-NL-9	CALIFORNIA ST DEPT WTR RES PWR SUPPLY REV SER K	5.000	05/01/2018	103.025 / 103.025	103.525 / 111.890	8.365	6	140
13062R-E2-0	CALIFORNIA ST REF-FSA-CR	5.000	06/01/2016		101.161 / 109.177	8.016	15	4600
006060-CL-9	ADAMS CNTY NEB HOSP AUTH NO 1 HOSP REV MARY LANNING MEM HOSP PROJ	5.250	12/15/2033		94.631 / 101.939	7.308	8	240
011842-PG-0	ALASKA ST INTL ARPTS REVS REF-AMT-SER A	5.000	10/01/2018		93.604 / 100.801	7.197	2	95
91412F-ZP-5	UNIVERSITY CALIF REVS GEN-SER J	4.500	05/15/2035		93.770 / 100.611	6.841	9	410
041431-DQ-7	ARLINGTON CNTY VA PUB IMPT	4.250	01/15/2027		91.001 / 97.738	6.737	17	3395
54675R-AR-2	LOUISVILLE/JEFFERSON CNTY KY METRO GOVT COLLEGE REV REF & IMPT-BELLARMINE UNIV-A	6.000	05/01/2033	98.044 / 98.044	97.844 / 103.844	6.000	10	3100+1
74526Q-KX-9	PUERTO RICO ELEC PWR AUTH PWR REV SER TT	5.000	07/01/2037	94.822 / 94.822	94.822 / 100.750	5.928	73	3315+5
745268-K7-6	PUERTO RICO ELEC PWR AUTH PWR REV REF-SER EE-MBIA IBC	4.750	07/01/2024		93.550 / 99.478	5.928	5	255

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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