Donald Trump's statement about potentially revoking Harvard's tax-exempt status could have a negative impact on the bond market. Historically, Trump's confrontational stance towards specific institutions has led to increased market volatility. The potential loss of tax-exempt status for Harvard, a prominent educational institution, could create uncertainty and regulatory risks for other tax-exempt entities, including non-profit organizations and educational institutions that issue bonds. This could lead to higher borrowing costs and reduced investor confidence in the bond market, particularly for tax-exempt bonds. Furthermore, Trump's statement may be perceived as an attack on the academic freedom and autonomy of institutions like Harvard, which could erode trust in the US educational system and have broader implications for the economy. Overall, Trump's statement has the potential to create a bearish sentiment in the bond market, particularly for tax-exempt bonds