Vanguard is yanking its application to launch new municipal bond exchange-traded funds in light of the slump in muni bond prices.

In a filing, the Valley Forge-based fund manager said it is withdrawing the funds "on the grounds that it has no plans to proceed with the offering of the Vanguard Short-Term Municipal Bond Index Fund, Vanguard Intermediate- Term Municipal Bond Index Fund, and Vanguard Long-Term Municipal Bond Index Fund, at this time."  

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