[ARTICLE] 6
[CIK] 0000875186
[NAME] CONSULTING GROUP CAPITAL MARKETS FUNDS
[SERIES]
   [NUMBER] 4
   [NAME] MUNICIPAL BOND
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          AUG-31-1997
[PERIOD-END]                               AUG-31-1997
[INVESTMENTS-AT-COST]                       50,281,995
[INVESTMENTS-AT-VALUE]                      51,460,813
[RECEIVABLES]                                  738,076
[ASSETS-OTHER]                                  65,129
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              52,264,018
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      240,174
[TOTAL-LIABILITIES]                            240,174
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    52,693,705
[SHARES-COMMON-STOCK]                        6,033,727
[SHARES-COMMON-PRIOR]                        5,627,070
[ACCUMULATED-NII-CURRENT]                      106,548
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                    (1,955,227)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     1,178,818
[NET-ASSETS]                                52,023,844
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                            2,527,709
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 381,410
[NET-INVESTMENT-INCOME]                      2,146,299
[REALIZED-GAINS-CURRENT]                      (46,971)
[APPREC-INCREASE-CURRENT]                    2,039,916
[NET-CHANGE-FROM-OPS]                        4,139,244
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    2,026,872
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      3,511,017
[NUMBER-OF-SHARES-REDEEMED]                  3,327,179
[SHARES-REINVESTED]                            222,819
[NET-CHANGE-IN-ASSETS]                       5,538,998
[ACCUMULATED-NII-PRIOR]                         12,879
[ACCUMULATED-GAINS-PRIOR]                  (1,908,256)
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          286,058
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                393,740
[AVERAGE-NET-ASSETS]                        47,691,464
[PER-SHARE-NAV-BEGIN]                             8.26
[PER-SHARE-NII]                                   0.38
[PER-SHARE-GAIN-APPREC]                           0.34
[PER-SHARE-DIVIDEND]                              0.36
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               8.62
[EXPENSE-RATIO]                                   0.80
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>