<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000875186
<NAME> CONSULTING GROUP CAPITAL MARKETS FUNDS
<SERIES>
   <NUMBER> 4
   <NAME> MUNICIPAL BOND
       
<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>