"We need private capital," the transportation secretary said.
"I would much rather invest in the muni, both in terms of default rates and in terms of the yield that you're getting off of those," said Travis Lower.
Wednesday's market rally is tied to President Donald Trump's announcement of the temporary ceasefire, which came about Tuesday night, an hour and a half before the president's 8 p.m. deadline, market participants said.
As Congress returns to Washington in the next few weeks thoughts will turn to a problematic reconciliation bill, a housing bill close to completion and a farm bill facing serious challenges.
Voters rejected a 3% hotel tax increase Tuesday in Springfield, Missouri. They had already rejected a similar measure in November.
"The steady tone talks to the underlying demand" for munis, NewSquare Capital's Kim Olsan said. "For the moment, munis are holding steady with a watchful approach.
