The looming expiration of the Build America Bonds program is anticipated to be a net negative for the municipal market, but at least one sector is looking towards Dec. 31 with glee: bond insurance.

“We don’t have a lot of success in the taxable market — they are not true insurance buyers,” Dominic Frederico, chief executive of Assured Guaranty Ltd., told investors earlier this month. “A non-extension, we think, would be beneficial.”

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