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Form 4 Filed by Mbia Inc on May 01, 2008


This form 4 (insider trading filing) was submitted to the Securities and Exchange Commission (SEC) by insider Mbia Inc on May 01, 2008. The CIK number of this insider is 814585. At the time of this reporting, Mbia Inc is the Other of Rivus Bond Fund . See all insider stock transactions reported by Mbia Inc and all stock buys, sales, and option exercises made by insiders at Rivus Bond Fund . The stock ticker symbol of Rivus Bond Fund is BDF.

FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
MBIA INC

(Last) (First) (Middle)
113 KING STREET

(Street)
ARMONK NY 10504

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
RIVUS BOND FUND [ BDF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
Officer (give title below) X Other (specify below)
Parent of Inv. Adv. See Foot.1
3. Date of Earliest Transaction (Month/Day/Year)
04/29/2008
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Shares of Beneficial Interest 04/29/2008 P 600 A $17.44 257,000 D
Shares of Beneficial Interest 04/29/2008 P 100 A $17.43 257,100 D
Shares of Beneficial Interest 04/29/2008 P 100 A $17.42 257,200 D
Shares of Beneficial Interest 04/29/2008 P 1,200 A $17.41 258,400 D
Shares of Beneficial Interest 04/29/2008 P 2,500 A $17.4 260,900 D
Shares of Beneficial Interest 04/29/2008 P 200 A $17.39 261,100 D
Shares of Beneficial Interest 04/29/2008 P 400 A $17.35 261,500 D
Shares of Beneficial Interest 04/29/2008 P 200 A $17.3 261,700 D
Shares of Beneficial Interest 04/30/2008 P 300 A $17.62 262,000 D
Shares of Beneficial Interest 04/30/2008 P 200 A $17.61 262,200 D
Shares of Beneficial Interest 04/30/2008 P 200 A $17.6 262,400 D
Shares of Beneficial Interest 04/30/2008 P 200 A $17.59 262,600 D
Shares of Beneficial Interest 04/30/2008 P 100 A $17.58 262,700 D
Shares of Beneficial Interest 04/30/2008 P 1,000 A $17.57 263,700 D
Shares of Beneficial Interest 04/30/2008 P 300 A $17.55 264,000 D
Shares of Beneficial Interest 04/30/2008 P 2,000 A $17.54 266,000 D
Shares of Beneficial Interest 04/30/2008 P 200 A $17.53 266,200 D
Shares of Beneficial Interest 04/30/2008 P 400 A $17.5 266,600 D
Shares of Beneficial Interest 04/30/2008 P 100 A $17.49 266,700 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
Remarks:
1. This filing is made on behalf of MBIA Inc. ("MBIA"). MBIA Capital Management Corp., the issuer's investment adviser, is an indirect wholly owned subsidiary of MBIA.
/s/ Ram D. Wertheim Vice President, General Counsel and Secretary of MBIA Inc. 05/01/2008
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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