Harvard Bonds Draw Buyers as Clash With Trump Fuels Selloff
A Harvard University bus crosses Harvard Square in Cambridge, Massachusetts.
Photographer: Sophie Park/BloombergHarvard University’s ongoing clash with the Trump administration has sparked a flurry of trading activity in the municipal bond market for its tax-exempt debt.
The university’s bonds were once so coveted, they traded at yields lower than other AAA debt. Wealthy investors in the high-tax commonwealth of Massachusetts were eager to scoop them up for tax advantages and perceived safety.