<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000797073
<NAME> DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
<NUMBER> 10
<NAME> DREYFUS SHORT TERM HIGH YIELD
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 111282
<INVESTMENTS-AT-VALUE> 89058
<RECEIVABLES> 2190
<ASSETS-OTHER> 54
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 91302
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 275
<TOTAL-LIABILITIES> 275
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 136138
<SHARES-COMMON-STOCK> 9279
<SHARES-COMMON-PRIOR> 13230
<ACCUMULATED-NII-CURRENT> 346
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (23233)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (22224)
<NET-ASSETS> 91027
<DIVIDEND-INCOME> 6848
<INTEREST-INCOME> 1
<OTHER-INCOME> 0
<EXPENSES-NET> 644
<NET-INVESTMENT-INCOME> 6205
<REALIZED-GAINS-CURRENT> (11347)
<APPREC-INCREASE-CURRENT> 2188
<NET-CHANGE-FROM-OPS> (2954)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6067)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1568
<NUMBER-OF-SHARES-REDEEMED> (5849)
<SHARES-REINVESTED> 330
<NET-CHANGE-IN-ASSETS> (49586)
<ACCUMULATED-NII-PRIOR> 208
<ACCUMULATED-GAINS-PRIOR> (11885)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 363
<INTEREST-EXPENSE> 35
<GROSS-EXPENSE> 644
<AVERAGE-NET-ASSETS> 109377
<PER-SHARE-NAV-BEGIN> 10.63
<PER-SHARE-NII> .59
<PER-SHARE-GAIN-APPREC> (.85)
<PER-SHARE-DIVIDEND> (.56)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.81
<EXPENSE-RATIO> 0.12
</TABLE>
