MERRILL LYNCH GLOBAL BOND FUND FOR INVESTMENT & RETIREMENT
NSAR-B, 1998-02-26
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<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  9
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<PAGE>      PAGE  13
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SIGNATURE   GERALD M. RICHARD                            
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000794220
<NAME> ML GLOBAL BOND FUND FOR INVESTMENT AND RETIREMENT
<SERIES>
   <NUMBER> 001
   <NAME> CLASS A
       
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<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                        233746584
<INVESTMENTS-AT-VALUE>                       233990553
<RECEIVABLES>                                  6112301
<ASSETS-OTHER>                                 3615228
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               243718082
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      3528016
<TOTAL-LIABILITIES>                            3528016
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     279638072
<SHARES-COMMON-STOCK>                          3019152
<SHARES-COMMON-PRIOR>                          7626885
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (40817200)
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<NET-ASSETS>                                  27522417
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             22401713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 5073722
<NET-INVESTMENT-INCOME>                       17327991
<REALIZED-GAINS-CURRENT>                    (23718229)
<APPREC-INCREASE-CURRENT>                       902161
<NET-CHANGE-FROM-OPS>                        (5488077)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (695428)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                        (1975770)
<NUMBER-OF-SHARES-SOLD>                        3694319
<NUMBER-OF-SHARES-REDEEMED>                  (8482776)
<SHARES-REINVESTED>                             180724
<NET-CHANGE-IN-ASSETS>                     (235250539)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                   (29915740)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                5073722
<AVERAGE-NET-ASSETS>                          45788603
<PER-SHARE-NAV-BEGIN>                             9.56
<PER-SHARE-NII>                                    .54
<PER-SHARE-GAIN-APPREC>                          (.44)
<PER-SHARE-DIVIDEND>                             (.14)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                             (.40)
<PER-SHARE-NAV-END>                               9.12
<EXPENSE-RATIO>                                    .96
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000794220
<NAME> ML GLOBAL BOND FUND FOR INVESTMENT AND RETIREMENT
<SERIES>
   <NUMBER> 002
   <NAME> CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                        233746584
<INVESTMENTS-AT-VALUE>                       233990553
<RECEIVABLES>                                  6112301
<ASSETS-OTHER>                                 3615228
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               243718082
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      3528016
<TOTAL-LIABILITIES>                            3528016
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     279638072
<SHARES-COMMON-STOCK>                         17608631
<SHARES-COMMON-PRIOR>                         36362368
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (40817200)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1369194
<NET-ASSETS>                                 160570635
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             22401713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (5073722)
<NET-INVESTMENT-INCOME>                       17327991
<REALIZED-GAINS-CURRENT>                    (23718229)
<APPREC-INCREASE-CURRENT>                    (3018723)
<NET-CHANGE-FROM-OPS>                        (5488077)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (8576451)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         897547
<NUMBER-OF-SHARES-REDEEMED>                 (20412996)
<SHARES-REINVESTED>                             761712
<NET-CHANGE-IN-ASSETS>                     (235250539)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                   (29915740)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                5073722
<AVERAGE-NET-ASSETS>                         228615039
<PER-SHARE-NAV-BEGIN>                             9.56
<PER-SHARE-NII>                                    .47
<PER-SHARE-GAIN-APPREC>                          (.44)
<PER-SHARE-DIVIDEND>                             (.13)
<PER-SHARE-DISTRIBUTIONS>                            0
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<EXPENSE-RATIO>                                   1.73
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000794220
<NAME> ML GLOBAL BOND FUND FOR INVESTMENT AND RETIREMENT
<SERIES>
   <NUMBER> 003
   <NAME> CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                        233746584
<INVESTMENTS-AT-VALUE>                       233990553
<RECEIVABLES>                                  6112301
<ASSETS-OTHER>                                 3615228
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               243718082
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      3528016
<TOTAL-LIABILITIES>                            3528016
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     279638072
<SHARES-COMMON-STOCK>                           250500
<SHARES-COMMON-PRIOR>                           978595
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (40817200)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1369194
<NET-ASSETS>                                   2283767
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             22401713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (5073722)
<NET-INVESTMENT-INCOME>                       17327991
<REALIZED-GAINS-CURRENT>                    (23718229)
<APPREC-INCREASE-CURRENT>                       902161
<NET-CHANGE-FROM-OPS>                        (5488077)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (56943)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                         (161780)
<NUMBER-OF-SHARES-SOLD>                         411159
<NUMBER-OF-SHARES-REDEEMED>                  (1155825)
<SHARES-REINVESTED>                              16571
<NET-CHANGE-IN-ASSETS>                     (235250539)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                   (29915740)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                5073722
<AVERAGE-NET-ASSETS>                           4424650
<PER-SHARE-NAV-BEGIN>                             9.56
<PER-SHARE-NII>                                    .46
<PER-SHARE-GAIN-APPREC>                          (.44)
<PER-SHARE-DIVIDEND>                             (.12)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                             (.34)
<PER-SHARE-NAV-END>                               9.12
<EXPENSE-RATIO>                                   1.82
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000794220
<NAME> ML GLOBAL BOND FUND FOR INVESTMENT AND RETIREMENT
<SERIES>
   <NUMBER> 004
   <NAME> CLASS D
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                        233746584
<INVESTMENTS-AT-VALUE>                       233990553
<RECEIVABLES>                                  6112301
<ASSETS-OTHER>                                 3615228
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               243718082
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      3528016
<TOTAL-LIABILITIES>                            3528016
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     279638072
<SHARES-COMMON-STOCK>                          5465063
<SHARES-COMMON-PRIOR>                          4782133
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     (40817200)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1369194
<NET-ASSETS>                                  49813247
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             22401713
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (5073722)
<NET-INVESTMENT-INCOME>                       17327991
<REALIZED-GAINS-CURRENT>                    (23718229)
<APPREC-INCREASE-CURRENT>                       902161
<NET-CHANGE-FROM-OPS>                        (5488077)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (740128)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                        (2102768)
<NUMBER-OF-SHARES-SOLD>                        2804710
<NUMBER-OF-SHARES-REDEEMED>                  (2331059)
<SHARES-REINVESTED>                             209279
<NET-CHANGE-IN-ASSETS>                     (235250539)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                   (29915740)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1974565
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                5073722
<AVERAGE-NET-ASSETS>                          50265866
<PER-SHARE-NAV-BEGIN>                             9.55
<PER-SHARE-NII>                                    .51
<PER-SHARE-GAIN-APPREC>                          (.44)
<PER-SHARE-DIVIDEND>                             (.13)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                             (.38)
<PER-SHARE-NAV-END>                               9.11
<EXPENSE-RATIO>                                   1.19
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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