<PAGE> PAGE 1
000 A000000 03/31/96
000 C000000 0000276463
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MERRILL LYNCH CORPORATE BOND FUND, INC.
001 B000000 811-2857
001 C000000 6092827165
002 A000000 P.O. BOX 9066
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9066
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 HIGH INCOME PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 INVESTMENT GRADE PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 INTERMEDIATE TERM PORTFOLIO
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 FUND ASSET MANAGEMENT, L.P.
008 B00AA01 A
008 C00AA01 801-12485
008 D01AA01 PRINCETON
008 D02AA01 NJ
008 D03AA01 08543
008 D04AA01 9011
011 A00AA01 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
011 B00AA01 8-14663
011 C01AA01 PRINCETON
011 C02AA01 NJ
011 C03AA01 08543
<PAGE> PAGE 2
011 C04AA01 9011
012 A00AA01 MERRILL LYNCH FINANCIAL DATA SERVICES, INC.
012 B00AA01 84-01339
012 C01AA01 JACKSONVILLE
012 C02AA01 FL
012 C03AA01 32246
012 C04AA01 6484
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 PRINCETON
013 B02AA01 NJ
013 B03AA01 08540
014 A00AA01 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
014 B00AA01 8-7221
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
015 A00AA02 ANZ BANKING GROUP LTD.
015 B00AA02 S
015 C01AA02 NEW ZEALAND
015 D01AA02 NEW ZEALAND
015 D02AA02 3000
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORPORATION
015 B00AA03 S
015 C01AA03 AUSTRALIA
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 AUSTRACLEAR LIMITED
015 B00AA04 S
015 C01AA04 AUSTRALIA
015 D01AA04 AUSTRALIA
015 E04AA04 X
015 A00AA05 CEDEL, S.A.
015 B00AA05 S
015 C01AA05 LUXEMBOURG
015 D01AA05 LUXEMBOURG
015 E04AA05 X
015 A00AA06 THE BANK OF NEW YORK
015 B00AA06 S
015 C01AA06 NEW YORK
015 C02AA06 NY
015 C03AA06 10015
015 E01AA06 X
015 A00AA07 BANKERS TRUST COMPANY
015 B00AA07 S
015 C01AA07 NEW YORK
015 C02AA07 NY
015 C03AA07 10006
<PAGE> PAGE 3
015 E01AA07 X
015 A00AA08 CHEMICAL BANK
015 B00AA08 S
015 C01AA08 NEW YORK
015 C02AA08 NY
015 C03AA08 10017
015 E01AA08 X
015 A00AA09 CUSTODIAL TRUST CO.
015 B00AA09 S
015 C01AA09 NEW YORK
015 C02AA09 NY
015 C03AA09 10167
015 E01AA09 X
015 A00AA10 MORGAN GUARANTEE TRUST CO.
015 B00AA10 S
015 C01AA10 NEW YORK
015 C02AA10 NY
015 C03AA10 10260
015 E01AA10 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 180
019 C00AA00 MERRILLLYN
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000001 13-5674085
020 C000001 27
020 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000002 13-2741729
020 C000002 3
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 30
022 A000001 UBS SECURITIES INC.
022 B000001 13-2932996
022 C000001 8576116
022 D000001 125232
022 A000002 GENERAL ELECTRIC CAPITAL CORP.
022 C000002 5950641
022 D000002 21975
022 A000003 HSBC SECURITIES, INC.
022 B000003 13-2650272
022 C000003 3188577
022 D000003 488
022 A000004 PAINEWEBBER INCORPORATED
022 B000004 13-2638166
<PAGE> PAGE 4
022 C000004 2350924
022 D000004 0
022 A000005 CS FIRST BOSTON CORPORATION
022 B000005 12-5659485
022 C000005 1179954
022 D000005 58770
022 A000006 LEHMAN BROTHERS INC.
022 B000006 13-2518466
022 C000006 882102
022 D000006 76594
022 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000007 13-2741729
022 C000007 559828
022 D000007 356283
022 A000008 BA SECURITIES, INC.
022 B000008 95-4035346
022 C000008 844990
022 D000008 4040
022 A000009 MORGAN STANLEY & CO. INCORPORATED
022 B000009 13-2655998
022 C000009 422823
022 D000009 191718
022 A000010 GOLDMAN, SACHS & CO.
022 B000010 13-5108880
022 C000010 515005
022 D000010 96652
023 C000000 26490903
023 D000000 1430787
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
<PAGE> PAGE 5
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 O000000 Y
078 000000 N
024 000100 N
028 A010100 180377
028 A020100 15111
028 A030100 0
028 A040100 70743
028 B010100 198379
028 B020100 14718
028 B030100 0
028 B040100 82827
028 C010100 166623
028 C020100 0
028 C030100 0
028 C040100 97985
028 D010100 201046
028 D020100 38252
028 D030100 0
028 D040100 104460
028 E010100 232855
028 E020100 15842
028 E030100 0
028 E040100 95462
028 F010100 209500
028 F020100 19712
028 F030100 0
028 F040100 104916
028 G010100 1188780
028 G020100 103635
028 G030100 0
028 G040100 556393
028 H000100 110453
029 000100 Y
030 A000100 1102
<PAGE> PAGE 6
030 B000100 4.00
030 C000100 0.00
031 A000100 103
031 B000100 0
032 000100 0
033 000100 999
034 000100 Y
035 000100 2361
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 13999
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 250000
048 A020100 0.550
048 B010100 250000
048 B020100 0.500
048 C010100 250000
048 C020100 0.450
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 750000
048 K020100 0.400
<PAGE> PAGE 7
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 8.9
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 85.8
062 Q000100 0.6
062 R000100 2.8
063 A000100 0
063 B000100 6.5
064 A000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
<PAGE> PAGE 8
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 1239019
071 B000100 709320
071 C000100 4288694
071 D000100 17
072 A000100 6
072 B000100 231513
072 C000100 3416
072 D000100 0
072 E000100 3253
072 F000100 9707
072 G000100 160
072 H000100 0
072 I000100 1904
072 J000100 79
072 K000100 0
072 L000100 182
072 M000100 17
072 N000100 288
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 27
072 S000100 20
072 T000100 13999
072 U000100 0
072 V000100 0
072 W000100 35
072 X000100 26418
072 Y000100 0
072 Z000100 211764
072AA000100 34753
072BB000100 39168
072CC010100 31568
072CC020100 0
072DD010100 51079
072DD020100 166378
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
<PAGE> PAGE 9
074 A000100 7929
074 B000100 0
074 C000100 454161
074 D000100 4424698
074 E000100 115972
074 F000100 26535
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 8350
074 K000100 0
074 L000100 123733
074 M000100 78
074 N000100 5161456
074 O000100 17165
074 P000100 4338
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 21689
074 S000100 0
074 T000100 5118264
074 U010100 139443
074 U020100 513105
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 238793
074 Y000100 0
075 A000100 0
075 B000100 4743548
076 000100 0.00
024 000200 Y
025 A000201 MORGAN STANLEY GROUP INC.
025 C000201 D
025 D000201 12375
025 A000202 PAINEWEBBER GROUP INC.
025 C000202 D
025 D000202 10826
025 A000203 DONALDSON, LUFKIN & JENRETTE INC.
025 C000203 D
025 D000203 6125
025 A000204 LEHMAN BROTHERS INC.
025 B000204 13-2518466
025 C000204 D
025 D000204 5060
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
<PAGE> PAGE 10
028 A010200 39821
028 A020200 3308
028 A030200 0
028 A040200 19613
028 B010200 62299
028 B020200 3428
028 B030200 0
028 B040200 23525
028 C010200 75320
028 C020200 0
028 C030200 0
028 C040200 38987
028 D010200 45132
028 D020200 7965
028 D030200 0
028 D040200 27871
028 E010200 76915
028 E020200 3696
028 E030200 0
028 E040200 25120
028 F010200 58096
028 F020200 4770
028 F030200 0
028 F040200 28054
028 G010200 357583
028 G020200 23167
028 G030200 0
028 G040200 163170
028 H000200 68049
029 000200 Y
030 A000200 175
030 B000200 4.00
030 C000200 0.00
031 A000200 19
031 B000200 0
032 000200 0
033 000200 156
034 000200 Y
035 000200 587
036 A000200 N
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
<PAGE> PAGE 11
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 2722
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 250000
048 A020200 0.500
048 B010200 250000
048 B020200 0.450
048 C010200 250000
048 C020200 0.400
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 750000
048 K020200 0.350
055 A000200 Y
055 B000200 N
056 000200 Y
057 000200 N
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 5.2
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 8.2
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 10.2
062 N000200 1.1
062 O000200 0.0
062 P000200 68.0
<PAGE> PAGE 12
062 Q000200 5.8
062 R000200 0.0
063 A000200 0
063 B000200 9.4
064 A000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 Y
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 690794
071 B000200 555656
071 C000200 1150843
071 D000200 48
072 A000200 6
072 B000200 44919
072 C000200 0
072 D000200 0
072 E000200 170
072 F000200 2281
<PAGE> PAGE 13
072 G000200 59
072 H000200 0
072 I000200 854
072 J000200 37
072 K000200 0
072 L000200 49
072 M000200 4
072 N000200 98
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 8
072 S000200 8
072 T000200 2722
072 U000200 0
072 V000200 0
072 W000200 12
072 X000200 6132
072 Y000200 0
072 Z000200 38957
072AA000200 16571
072BB000200 8473
072CC010200 0
072CC020200 32898
072DD010200 18151
072DD020200 20806
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 12
074 B000200 69753
074 C000200 109928
074 D000200 1147342
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 5619
074 K000200 0
074 L000200 27989
074 M000200 28
074 N000200 1360671
074 O000200 6240
074 P000200 896
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
<PAGE> PAGE 14
074 R040200 5920
074 S000200 0
074 T000200 1347615
074 U010200 52405
074 U020200 66644
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 103772
074 Y000200 0
075 A000200 0
075 B000200 1269073
076 000200 0.00
024 000300 Y
025 A000301 MORGAN STANLEY GROUP, INC.
025 C000301 D
025 D000301 7853
025 A000302 PAINEWEBBER GROUP, INC.
025 C000302 D
025 D000302 4330
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 51897
028 A020300 1322
028 A030300 0
028 A040300 10867
028 B010300 14935
028 B020300 1446
028 B030300 0
028 B040300 11688
028 C010300 12435
028 C020300 0
028 C030300 0
028 C040300 32456
028 D010300 19256
028 D020300 3209
028 D030300 0
028 D040300 13239
028 E010300 22518
028 E020300 1376
028 E030300 0
028 E040300 35056
028 F010300 18589
028 F020300 1679
028 F030300 0
028 F040300 11761
028 G010300 139630
<PAGE> PAGE 15
028 G020300 9032
028 G030300 0
028 G040300 115067
028 H000300 17347
029 000300 Y
030 A000300 29
030 B000300 1.00
030 C000300 0.00
031 A000300 3
031 B000300 0
032 000300 0
033 000300 26
034 000300 Y
035 000300 141
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 100
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 602
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 250000
048 A020300 0.500
048 B010300 250000
048 B020300 0.450
048 C010300 250000
048 C020300 0.400
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
<PAGE> PAGE 16
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 750000
048 K020300 0.350
055 A000300 Y
055 B000300 N
056 000300 Y
057 000300 N
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 4.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 2.7
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 11.2
062 N000300 0.5
062 O000300 0.0
062 P000300 73.4
062 Q000300 7.1
062 R000300 0.0
063 A000300 0
063 B000300 5.2
064 A000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 Y
<PAGE> PAGE 17
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 Y
070 O010300 N
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 346110
071 B000300 298601
071 C000300 453258
071 D000300 66
072 A000300 6
072 B000300 16912
072 C000300 0
072 D000300 0
072 E000300 84
072 F000300 889
072 G000300 35
072 H000300 0
072 I000300 340
072 J000300 19
072 K000300 0
072 L000300 14
072 M000300 2
072 N000300 44
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 4
072 S000300 2
072 T000300 602
072 U000300 0
072 V000300 0
072 W000300 6
072 X000300 1957
072 Y000300 0
072 Z000300 15039
072AA000300 6062
072BB000300 1266
072CC010300 0
072CC020300 8103
072DD010300 8114
<PAGE> PAGE 18
072DD020300 6925
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 14
074 B000300 19452
074 C000300 12986
074 D000300 445598
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 14575
074 K000300 0
074 L000300 9293
074 M000300 33
074 N000300 501951
074 O000300 16045
074 P000300 246
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 2356
074 S000300 0
074 T000300 483304
074 U010300 22272
074 U020300 20045
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 47239
074 Y000300 0
075 A000300 0
075 B000300 494418
076 000300 0.00
SIGNATURE GERALD M. RICHARD
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 011
<NAME> HIGH INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 5038537788
<INVESTMENTS-AT-VALUE> 5021366294
<RECEIVABLES> 132083049
<ASSETS-OTHER> 8006954
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5161456297
<PAYABLE-FOR-SECURITIES> 17165178
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26027266
<TOTAL-LIABILITIES> 43192444
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5179334428
<SHARES-COMMON-STOCK> 116725957
<SHARES-COMMON-PRIOR> 115693946
<ACCUMULATED-NII-CURRENT> (2817521)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (41081560)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (17171494)
<NET-ASSETS> 915286020
<DIVIDEND-INCOME> 3416481
<INTEREST-INCOME> 231513252
<OTHER-INCOME> 3252578
<EXPENSES-NET> (26418276)
<NET-INVESTMENT-INCOME> 211764035
<REALIZED-GAINS-CURRENT> (4414957)
<APPREC-INCREASE-CURRENT> 31567663
<NET-CHANGE-FROM-OPS> 238916741
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (44588606)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7314948
<NUMBER-OF-SHARES-REDEEMED> (9106868)
<SHARES-REINVESTED> 2823931
<NET-CHANGE-IN-ASSETS> 757481225
<ACCUMULATED-NII-PRIOR> 2875853
<ACCUMULATED-GAINS-PRIOR> (36666602)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9707077
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26418276
<AVERAGE-NET-ASSETS> 911716970
<PER-SHARE-NAV-BEGIN> 7.80
<PER-SHARE-NII> .37
<PER-SHARE-GAIN-APPREC> .05
<PER-SHARE-DIVIDEND> (.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.84
<EXPENSE-RATIO> .51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 012
<NAME> HIGH INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 5038537788
<INVESTMENTS-AT-VALUE> 5021366294
<RECEIVABLES> 132083049
<ASSETS-OTHER> 8006954
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5161456297
<PAYABLE-FOR-SECURITIES> 17165178
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26027266
<TOTAL-LIABILITIES> 43192444
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5179334428
<SHARES-COMMON-STOCK> 480020199
<SHARES-COMMON-PRIOR> 412837687
<ACCUMULATED-NII-CURRENT> (2817521)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (41081560)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (17171494)
<NET-ASSETS> 3765063348
<DIVIDEND-INCOME> 3416481
<INTEREST-INCOME> 231513252
<OTHER-INCOME> 3252578
<EXPENSES-NET> (26418276)
<NET-INVESTMENT-INCOME> 211764035
<REALIZED-GAINS-CURRENT> (4414957)
<APPREC-INCREASE-CURRENT> 31567663
<NET-CHANGE-FROM-OPS> 238916741
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (157730506)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 100293279
<NUMBER-OF-SHARES-REDEEMED> (42452729)
<SHARES-REINVESTED> 9341962
<NET-CHANGE-IN-ASSETS> 757481225
<ACCUMULATED-NII-PRIOR> 2875853
<ACCUMULATED-GAINS-PRIOR> (36666602)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9707077
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26418276
<AVERAGE-NET-ASSETS> 3500903613
<PER-SHARE-NAV-BEGIN> 7.80
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> .05
<PER-SHARE-DIVIDEND> (.35)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.84
<EXPENSE-RATIO> 1.28
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 013
<NAME> HIGH INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 5038537788
<INVESTMENTS-AT-VALUE> 5021366294
<RECEIVABLES> 132083049
<ASSETS-OTHER> 8006954
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5161456297
<PAYABLE-FOR-SECURITIES> 17165178
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26027266
<TOTAL-LIABILITIES> 43192444
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5179334428
<SHARES-COMMON-STOCK> 33084583
<SHARES-COMMON-PRIOR> 17295752
<ACCUMULATED-NII-CURRENT> (2817521)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (41081560)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (17171494)
<NET-ASSETS> 259674235
<DIVIDEND-INCOME> 3416481
<INTEREST-INCOME> 231513252
<OTHER-INCOME> 3252578
<EXPENSES-NET> (26418276)
<NET-INVESTMENT-INCOME> 211764035
<REALIZED-GAINS-CURRENT> (4414957)
<APPREC-INCREASE-CURRENT> 31567663
<NET-CHANGE-FROM-OPS> 238916741
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8647785)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18737210
<NUMBER-OF-SHARES-REDEEMED> (3551598)
<SHARES-REINVESTED> 603219
<NET-CHANGE-IN-ASSETS> 757481225
<ACCUMULATED-NII-PRIOR> 2875853
<ACCUMULATED-GAINS-PRIOR> (36666602)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9707077
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26418276
<AVERAGE-NET-ASSETS> 194080194
<PER-SHARE-NAV-BEGIN> 7.81
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> .05
<PER-SHARE-DIVIDEND> (.35)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.85
<EXPENSE-RATIO> 1.33
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 014
<NAME> HIGH INCOME PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 5038537788
<INVESTMENTS-AT-VALUE> 5021366294
<RECEIVABLES> 132083049
<ASSETS-OTHER> 8006954
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5161456297
<PAYABLE-FOR-SECURITIES> 17165178
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26027266
<TOTAL-LIABILITIES> 43192444
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5179334428
<SHARES-COMMON-STOCK> 22717150
<SHARES-COMMON-PRIOR> 13157731
<ACCUMULATED-NII-CURRENT> (2817521)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (41081560)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (17171494)
<NET-ASSETS> 178240250
<DIVIDEND-INCOME> 3416481
<INTEREST-INCOME> 231513252
<OTHER-INCOME> 3252578
<EXPENSES-NET> (26418276)
<NET-INVESTMENT-INCOME> 211764035
<REALIZED-GAINS-CURRENT> (4414957)
<APPREC-INCREASE-CURRENT> 31567663
<NET-CHANGE-FROM-OPS> 238916741
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6490512)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25249044
<NUMBER-OF-SHARES-REDEEMED> (16097200)
<SHARES-REINVESTED> 407575
<NET-CHANGE-IN-ASSETS> 757481225
<ACCUMULATED-NII-PRIOR> 2875853
<ACCUMULATED-GAINS-PRIOR> (36666602)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9707077
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26418276
<AVERAGE-NET-ASSETS> 136847177
<PER-SHARE-NAV-BEGIN> 7.80
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> .07
<PER-SHARE-DIVIDEND> (.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.85
<EXPENSE-RATIO> .76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 021
<NAME> INVESTMENT GRADE PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 1326641068
<INVESTMENTS-AT-VALUE> 1327023095
<RECEIVABLES> 33608191
<ASSETS-OTHER> 39624
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1360670910
<PAYABLE-FOR-SECURITIES> 6240203
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6815484
<TOTAL-LIABILITIES> 13055687
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1378820741
<SHARES-COMMON-STOCK> 48623755
<SHARES-COMMON-PRIOR> 41053869
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (31587545)
<ACCUM-APPREC-OR-DEPREC> 382027
<NET-ASSETS> 550396333
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 44919438
<OTHER-INCOME> 170313
<EXPENSES-NET> (6132467)
<NET-INVESTMENT-INCOME> 38957284
<REALIZED-GAINS-CURRENT> 8097738
<APPREC-INCREASE-CURRENT> (32898186)
<NET-CHANGE-FROM-OPS> 14156836
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17058540)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10778533
<NUMBER-OF-SHARES-REDEEMED> (3994922)
<SHARES-REINVESTED> 786275
<NET-CHANGE-IN-ASSETS> 192779081
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (6680118)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (33005165)
<GROSS-ADVISORY-FEES> 2281473
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6132467
<AVERAGE-NET-ASSETS> 518621326
<PER-SHARE-NAV-BEGIN> 11.51
<PER-SHARE-NII> .38
<PER-SHARE-GAIN-APPREC> (.19)
<PER-SHARE-DIVIDEND> (.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.32
<EXPENSE-RATIO> .53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 022
<NAME> INVESTMENT GRADE PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 1326641068
<INVESTMENTS-AT-VALUE> 1327023095
<RECEIVABLES> 33608191
<ASSETS-OTHER> 39624
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1360670910
<PAYABLE-FOR-SECURITIES> 6240203
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6815484
<TOTAL-LIABILITIES> 13055687
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1378820741
<SHARES-COMMON-STOCK> 62095799
<SHARES-COMMON-PRIOR> 54884140
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (31587545)
<ACCUM-APPREC-OR-DEPREC> 382027
<NET-ASSETS> 702883784
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 44919438
<OTHER-INCOME> 170313
<EXPENSES-NET> (6132467)
<NET-INVESTMENT-INCOME> 38957284
<REALIZED-GAINS-CURRENT> 8097738
<APPREC-INCREASE-CURRENT> (32898186)
<NET-CHANGE-FROM-OPS> 14156836
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (19709317)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15040984
<NUMBER-OF-SHARES-REDEEMED> (8900971)
<SHARES-REINVESTED> 1071646
<NET-CHANGE-IN-ASSETS> 192779081
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (6680118)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (33005165)
<GROSS-ADVISORY-FEES> 2281473
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6132467
<AVERAGE-NET-ASSETS> 677763886
<PER-SHARE-NAV-BEGIN> 11.51
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> (.19)
<PER-SHARE-DIVIDEND> (.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.32
<EXPENSE-RATIO> 1.29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 023
<NAME> INVESTMENT GRADE PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 1326641068
<INVESTMENTS-AT-VALUE> 1327023095
<RECEIVABLES> 33608191
<ASSETS-OTHER> 39624
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1360670910
<PAYABLE-FOR-SECURITIES> 6240203
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6815484
<TOTAL-LIABILITIES> 13055687
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1378820741
<SHARES-COMMON-STOCK> 4548433
<SHARES-COMMON-PRIOR> 2239580
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (31587545)
<ACCUM-APPREC-OR-DEPREC> 382027
<NET-ASSETS> 51505158
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 44919438
<OTHER-INCOME> 170313
<EXPENSES-NET> (6132467)
<NET-INVESTMENT-INCOME> 38957284
<REALIZED-GAINS-CURRENT> 8097738
<APPREC-INCREASE-CURRENT> (32898186)
<NET-CHANGE-FROM-OPS> 14156836
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1097116)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2789341
<NUMBER-OF-SHARES-REDEEMED> (543418)
<SHARES-REINVESTED> 62930
<NET-CHANGE-IN-ASSETS> 192779081
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (6680118)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (33005165)
<GROSS-ADVISORY-FEES> 2281473
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6132467
<AVERAGE-NET-ASSETS> 38133501
<PER-SHARE-NAV-BEGIN> 11.51
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> (.19)
<PER-SHARE-DIVIDEND> (.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.32
<EXPENSE-RATIO> 1.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 024
<NAME> INVESTMENT GRADE PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 1326641068
<INVESTMENTS-AT-VALUE> 1327023095
<RECEIVABLES> 33608191
<ASSETS-OTHER> 39624
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1360670910
<PAYABLE-FOR-SECURITIES> 6240203
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6815484
<TOTAL-LIABILITIES> 13055687
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1378820741
<SHARES-COMMON-STOCK> 3781451
<SHARES-COMMON-PRIOR> 2184726
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (31587545)
<ACCUM-APPREC-OR-DEPREC> 382027
<NET-ASSETS> 42829948
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 44919438
<OTHER-INCOME> 170313
<EXPENSES-NET> (6132467)
<NET-INVESTMENT-INCOME> 38957284
<REALIZED-GAINS-CURRENT> 8097738
<APPREC-INCREASE-CURRENT> (32898186)
<NET-CHANGE-FROM-OPS> 14156836
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1092311)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2213503
<NUMBER-OF-SHARES-REDEEMED> (682364)
<SHARES-REINVESTED> 65586
<NET-CHANGE-IN-ASSETS> 192779081
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (6680118)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (33005165)
<GROSS-ADVISORY-FEES> 2281473
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6132467
<AVERAGE-NET-ASSETS> 34554557
<PER-SHARE-NAV-BEGIN> 11.51
<PER-SHARE-NII> .37
<PER-SHARE-GAIN-APPREC> (.18)
<PER-SHARE-DIVIDEND> (.37)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.33
<EXPENSE-RATIO> .78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 031
<NAME> INTERMEDIATE TERM PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 477737520
<INVESTMENTS-AT-VALUE> 478035996
<RECEIVABLES> 23868366
<ASSETS-OTHER> 46253
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 501950615
<PAYABLE-FOR-SECURITIES> 16044502
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2602607
<TOTAL-LIABILITIES> 18647109
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 492973007
<SHARES-COMMON-STOCK> 20052818
<SHARES-COMMON-PRIOR> 18928003
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (566943)
<OVERDISTRIBUTION-GAINS> (9401034)
<ACCUM-APPREC-OR-DEPREC> 298476
<NET-ASSETS> 229013092
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 16912008
<OTHER-INCOME> 83578
<EXPENSES-NET> (1956666)
<NET-INVESTMENT-INCOME> 15038920
<REALIZED-GAINS-CURRENT> 4795981
<APPREC-INCREASE-CURRENT> (8103109)
<NET-CHANGE-FROM-OPS> 11731792
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7474132)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4539503
<NUMBER-OF-SHARES-REDEEMED> (3765277)
<SHARES-REINVESTED> 350589
<NET-CHANGE-IN-ASSETS> 30287984
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (5362923)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (9401034)
<GROSS-ADVISORY-FEES> 888900
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1956666
<AVERAGE-NET-ASSETS> 235827900
<PER-SHARE-NAV-BEGIN> 11.50
<PER-SHARE-NII> .37
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.37)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.42
<EXPENSE-RATIO> .54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 032
<NAME> INTERMEDIATE TERM PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 477737520
<INVESTMENTS-AT-VALUE> 478035996
<RECEIVABLES> 23868366
<ASSETS-OTHER> 46253
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 501950615
<PAYABLE-FOR-SECURITIES> 16044502
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2602607
<TOTAL-LIABILITIES> 18647109
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 492973007
<SHARES-COMMON-STOCK> 19289406
<SHARES-COMMON-PRIOR> 18443916
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (566943)
<OVERDISTRIBUTION-GAINS> (9401034)
<ACCUM-APPREC-OR-DEPREC> 298476
<NET-ASSETS> 220307594
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 16912008
<OTHER-INCOME> 83578
<EXPENSES-NET> (1956666)
<NET-INVESTMENT-INCOME> 15038920
<REALIZED-GAINS-CURRENT> 4795981
<APPREC-INCREASE-CURRENT> (8103109)
<NET-CHANGE-FROM-OPS> 11731792
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6659928)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5612306
<NUMBER-OF-SHARES-REDEEMED> (5136673)
<SHARES-REINVESTED> 369857
<NET-CHANGE-IN-ASSETS> 30287984
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (5362923)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (9401034)
<GROSS-ADVISORY-FEES> 888900
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1956666
<AVERAGE-NET-ASSETS> 228917627
<PER-SHARE-NAV-BEGIN> 11.50
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.42
<EXPENSE-RATIO> 1.06
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 033
<NAME> INTERMEDIATE TERM PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 477737520
<INVESTMENTS-AT-VALUE> 478035996
<RECEIVABLES> 23868366
<ASSETS-OTHER> 46253
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 501950615
<PAYABLE-FOR-SECURITIES> 16044502
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2602607
<TOTAL-LIABILITIES> 18647109
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 492973007
<SHARES-COMMON-STOCK> 755846
<SHARES-COMMON-PRIOR> 591728
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (566943)
<OVERDISTRIBUTION-GAINS> (9401034)
<ACCUM-APPREC-OR-DEPREC> 298476
<NET-ASSETS> 8632878
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 16912008
<OTHER-INCOME> 83578
<EXPENSES-NET> (1956666)
<NET-INVESTMENT-INCOME> 15038920
<REALIZED-GAINS-CURRENT> 4795981
<APPREC-INCREASE-CURRENT> (8103109)
<NET-CHANGE-FROM-OPS> 11731792
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (264772)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 521728
<NUMBER-OF-SHARES-REDEEMED> (374813)
<SHARES-REINVESTED> 17203
<NET-CHANGE-IN-ASSETS> 30287984
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (5362923)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (9401034)
<GROSS-ADVISORY-FEES> 888900
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1956666
<AVERAGE-NET-ASSETS> 9138846
<PER-SHARE-NAV-BEGIN> 11.50
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.42
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000276463
<NAME> MERRILL LYNCH CORPORATE BOND FUND, INC.
<SERIES>
<NUMBER> 034
<NAME> INTERMEDIATE TERM PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-START> OCT-01-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 477737520
<INVESTMENTS-AT-VALUE> 478035996
<RECEIVABLES> 23868366
<ASSETS-OTHER> 46253
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 501950615
<PAYABLE-FOR-SECURITIES> 16044502
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2602607
<TOTAL-LIABILITIES> 18647109
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 492973007
<SHARES-COMMON-STOCK> 2219541
<SHARES-COMMON-PRIOR> 1421349
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (566943)
<OVERDISTRIBUTION-GAINS> (9401034)
<ACCUM-APPREC-OR-DEPREC> 298476
<NET-ASSETS> 25349942
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 16912008
<OTHER-INCOME> 83578
<EXPENSES-NET> (1956666)
<NET-INVESTMENT-INCOME> 15038920
<REALIZED-GAINS-CURRENT> 4795981
<APPREC-INCREASE-CURRENT> (8103109)
<NET-CHANGE-FROM-OPS> 11731792
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (640088)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1351233
<NUMBER-OF-SHARES-REDEEMED> (588781)
<SHARES-REINVESTED> 35740
<NET-CHANGE-IN-ASSETS> 30287984
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (5362923)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (9401034)
<GROSS-ADVISORY-FEES> 888900
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1956666
<AVERAGE-NET-ASSETS> 20533571
<PER-SHARE-NAV-BEGIN> 11.50
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.36)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.42
<EXPENSE-RATIO> .64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>