<PAGE> PAGE 1
000 B000000 04/30/98
000 C000000 0000807394
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 PRUDENTIAL MUNICIPAL BOND FUND
001 B000000 811-4930
001 C000000 9733677530
002 A000000 100 MULBERRY STREET
002 B000000 NEWARK
002 C000000 NJ
002 D010000 07102
002 D020000 4077
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 HIGH YIELD SERIES
007 C030100 N
007 C010200 2
007 C020200 INSURED SERIES
007 C030200 N
007 C010300 3
007 C020300 INTERMEDIATE SERIES
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
<PAGE> PAGE 2
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
008 A00AA01 THE PRUDENTIAL INVESTMENT CORP.
008 B00AA01 S
008 C00AA01 801-12484
008 D01AA01 NEWARK
008 D02AA01 NJ
008 D03AA01 07101
008 A00AA02 PRUDENTIAL INVESTMENTS FUND MANAGEMENT LLC
008 B00AA02 A
008 C00AA02 801-31104
008 D01AA02 NEWARK
008 D02AA02 NJ
008 D03AA02 07102
008 D04AA02 4077
011 A00AA01 PRUDENTIAL SECURITIES INCORPORATED
011 B00AA01 8-27154
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10292
011 A00AA02 PRUDENTIAL MUTUAL FUND DISTRIBUTORS, INC.
011 B00AA02 8-38739
011 C01AA02 NEW YORK
011 C02AA02 NY
011 C03AA02 10292
<PAGE> PAGE 3
012 A00AA01 PRUDENTIAL MUTUAL FUND SERVICES LLC
012 B00AA01 84-4110019
012 C01AA01 NEW BRUNSWICK
012 C02AA01 NJ
012 C03AA01 08906
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 PRUDENTIAL SECURITIES INCORPORATED
014 B00AA01 8-27154
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 NORTH QUINCY
015 C02AA01 MA
015 C03AA01 02171
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 94
019 C00AA00 PRUDENTIAL
020 A000001 BEAR, STEARNS & CO., INC.
020 B000001 13-3299429
020 C000001 113
020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000002 13-5674085
020 C000002 14
020 A000003 GOLDMAN, SACHS & CO.
020 B000003 13-5108880
020 C000003 9
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 136
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001 306848
022 D000001 227245
022 A000002 SIMON (W.E.) & SONS MUNI. SECURITIES, INC.
022 B000002 22-3017217
022 C000002 101347
022 D000002 139417
022 A000003 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
022 B000003 13-2655998
022 C000003 92945
022 D000003 97010
022 A000004 MORGAN (J.P.) SECURITIES, INC.
<PAGE> PAGE 4
022 B000004 13-3224016
022 C000004 93234
022 D000004 91723
022 A000005 LEHMAN, INC.
022 B000005 13-2518466
022 C000005 51026
022 D000005 42310
022 A000006 WHEAT FIRST BUTCHER SINGER, INC.
022 B000006 54-0796506
022 C000006 46600
022 D000006 37400
022 A000007 SALOMON SMITH BARNEY
022 B000007 13-1912900
022 C000007 42630
022 D000007 38418
022 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000008 13-5674085
022 C000008 29476
022 D000008 33365
022 A000009 CITICORP SECURITIES SERVICES, INC.
022 B000009 13-3214963
022 C000009 26800
022 D000009 13400
022 A000010 BEAR, STEARNS & CO., INC.
022 B000010 13-3299429
022 C000010 32938
022 D000010 6966
023 C000000 1025302
023 D000000 961098
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
037 00AA00 N
038 00AA00 0
039 00AA00 N
<PAGE> PAGE 5
040 00AA00 Y
041 00AA00 Y
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 1000000
048 A02AA00 0.500
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 1000000
048 K02AA00 0.450
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 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
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
<PAGE> PAGE 6
058 B00AA00 N
058 C00AA00 N
058 D00AA00 N
058 E00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 65000
081 A00AA00 Y
081 B00AA00 80
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
<PAGE> PAGE 7
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 12596
028 A020100 2335
028 A030100 0
028 A040100 9013
028 B010100 17922
028 B020100 2303
028 B030100 0
028 B040100 10602
028 C010100 17062
028 C020100 2226
028 C030100 0
028 C040100 12146
028 D010100 18375
028 D020100 2665
028 D030100 0
028 D040100 11091
028 E010100 20387
028 E020100 2306
028 E030100 0
028 E040100 15235
028 F010100 19539
028 F020100 2250
028 F030100 0
028 F040100 14107
028 G010100 105881
028 G020100 14085
028 G030100 0
028 G040100 72194
028 H000100 32120
029 000100 Y
030 A000100 494
030 B000100 3.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 494
034 000100 Y
035 000100 867
036 A000100 N
036 B000100 0
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
<PAGE> PAGE 8
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 3839
044 000100 0
055 A000100 N
055 B000100 N
056 000100 N
057 000100 N
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.7
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 98.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 18.3
064 A000100 Y
064 B000100 Y
065 000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 Y
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
<PAGE> PAGE 9
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 Y
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 208054
071 B000100 139079
071 C000100 1048945
071 D000100 13
072 A000100 12
072 B000100 71329
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 5323
072 G000100 0
072 H000100 -536
072 I000100 450
072 J000100 148
072 K000100 0
072 L000100 81
072 M000100 13
072 N000100 64
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 15
072 S000100 18
072 T000100 3840
072 U000100 0
072 V000100 0
072 W000100 37
072 X000100 9453
072 Y000100 0
072 Z000100 61876
072AA000100 9850
072BB000100 16301
072CC010100 50352
<PAGE> PAGE 10
072CC020100 0
072DD010100 37683
072DD020100 24193
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 533
074 B000100 0
074 C000100 8500
074 D000100 1098750
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 7493
074 K000100 0
074 L000100 23936
074 M000100 52
074 N000100 1139264
074 O000100 0
074 P000100 734
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 17299
074 S000100 0
074 T000100 1121231
074 U010100 59186
074 U020100 39969
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 34415
074 Y000100 0
075 A000100 0
075 B000100 1071863
076 000100 0.00
028 A010200 901
028 A020200 1034
028 A030200 0
028 A040200 6879
028 B010200 964
028 B020200 7918
028 B030200 0
028 B040200 6179
028 C010200 1636
028 C020200 975
<PAGE> PAGE 11
028 C030200 0
028 C040200 5053
028 D010200 1182
028 D020200 1140
028 D030200 0
028 D040200 6306
028 E010200 5840
028 E020200 959
028 E030200 0
028 E040200 10341
028 F010200 1198
028 F020200 931
028 F030200 0
028 F040200 8602
028 G010200 11721
028 G020200 12957
028 G030200 0
028 G040200 43360
028 H000200 5051
029 000200 Y
030 A000200 30
030 B000200 3.00
030 C000200 0.00
031 A000200 0
031 B000200 0
032 000200 0
033 000200 30
034 000200 Y
035 000200 388
036 A000200 N
036 B000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 100
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 1583
044 000200 0
055 A000200 N
055 B000200 N
056 000200 N
057 000200 N
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.9
062 F000200 0.0
<PAGE> PAGE 12
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 98.3
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 16.6
064 A000200 N
064 B000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 Y
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 Y
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 Y
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
<PAGE> PAGE 13
070 R020200 N
071 A000200 404690
071 B000200 456798
071 C000200 476384
071 D000200 85
072 A000200 12
072 B000200 26886
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 2470
072 G000200 0
072 H000200 -85
072 I000200 301
072 J000200 91
072 K000200 0
072 L000200 50
072 M000200 13
072 N000200 41
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 15
072 S000200 11
072 T000200 1583
072 U000200 0
072 V000200 0
072 W000200 22
072 X000200 4512
072 Y000200 0
072 Z000200 22374
072AA000200 11848
072BB000200 4429
072CC010200 10878
072CC020200 0
072DD010200 11856
072DD020200 10690
072EE000200 10610
073 A010200 0.0000
073 A020200 0.0000
073 B000200 1.0000
073 C000200 0.0000
074 A000200 27
074 B000200 0
074 C000200 4000
074 D000200 455076
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
<PAGE> PAGE 14
074 J000200 0
074 K000200 0
074 L000200 6252
074 M000200 9
074 N000200 465364
074 O000200 0
074 P000200 721
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1937
074 S000200 0
074 T000200 462706
074 U010200 21374
074 U020200 20487
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 19085
074 Y000200 0
075 A000200 0
075 B000200 493983
076 000200 0.00
028 A010300 44
028 A020300 82
028 A030300 0
028 A040300 676
028 B010300 67
028 B020300 214
028 B030300 0
028 B040300 1032
028 C010300 222
028 C020300 74
028 C030300 0
028 C040300 768
028 D010300 723
028 D020300 89
028 D030300 0
028 D040300 551
028 E010300 474
028 E020300 72
028 E030300 0
028 E040300 813
028 F010300 292
028 F020300 70
028 F030300 0
028 F040300 710
028 G010300 1822
028 G020300 601
028 G030300 0
<PAGE> PAGE 15
028 G040300 4550
028 H000300 279
029 000300 Y
030 A000300 5
030 B000300 3.00
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 0
033 000300 5
034 000300 Y
035 000300 66
036 A000300 N
036 B000300 0
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 100
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 152
044 000300 0
055 A000300 N
055 B000300 N
056 000300 N
057 000300 N
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 1.6
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 97.7
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 9.1
064 A000300 N
064 B000300 N
070 A010300 Y
<PAGE> PAGE 16
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 Y
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 N
070 K010300 N
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 Y
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 21888
071 B000300 28523
071 C000300 40463
071 D000300 54
072 A000300 12
072 B000300 2206
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 208
072 G000300 0
072 H000300 -7
072 I000300 38
072 J000300 72
072 K000300 0
072 L000300 87
<PAGE> PAGE 17
072 M000300 13
072 N000300 62
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 15
072 S000300 11
072 T000300 152
072 U000300 0
072 V000300 0
072 W000300 6
072 X000300 657
072 Y000300 0
072 Z000300 1549
072AA000300 596
072BB000300 256
072CC010300 816
072CC020300 0
072DD010300 976
072DD020300 573
072EE000300 202
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.2400
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 600
074 D000300 37900
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 619
074 M000300 1
074 N000300 39120
074 O000300 0
074 P000300 27
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 307
074 S000300 0
074 T000300 38786
074 U010300 2221
074 U020300 1366
074 V010300 0.00
<PAGE> PAGE 18
074 V020300 0.00
074 W000300 0.0000
074 X000300 1791
074 Y000300 0
075 A000300 0
075 B000300 41594
076 000300 0.00
SIGNATURE GRACE TORRES
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB001
<NAMHIGH YIELD SERIES (CLASS A)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 1,025,477,321
<INVESTMENTS-AT-VALUE> 1,107,249,890
<RECEIVABLES> 31,428,924
<ASSETS-OTHER> 584,739
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,139,263,553
<PAYABLE-FOR-SECURITIES> 13,292,139
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,740,821
<TOTAL-LIABILITIES> 18,032,960
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,064,396,125
<SHARES-COMMON-STOCK> 99,154,705
<SHARES-COMMON-PRIOR> 93,365,816
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (24,938,101)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 81,772,569
<NET-ASSETS> 1,121,230,593
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 71,328,838
<OTHER-INCOME> 0
<EXPENSES-NET> 9,452,796
<NET-INVESTMENT-INCOME> 61,876,042
<REALIZED-GAINS-CURRENT> (6,450,845)
<APPREC-INCREASE-CURRENT> 50,351,593
<NET-CHANGE-FROM-OPS> 105,776,790
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (61,876,042)
<NUMBER-OF-SHARES-SOLD> 194,658,081
<NUMBER-OF-SHARES-REDEEMED> (156,797,816)
<SHARES-REINVESTED> 27,600,737
<NET-CHANGE-IN-ASSETS> 109,361,750
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (18,487,254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,323,382
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,912,387
<AVERAGE-NET-ASSETS> 381,735,000
<PER-SHARE-NAV-BEGIN> 10.84
<PER-SHARE-NII> 0.67
<PER-SHARE-GAIN-APPREC> 0.47
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.67)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.31
<EXPENSE-RATIO> 0.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB002
<NAMHIGH YIELD SERIES (CLASS B)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 1,025,477,321
<INVESTMENTS-AT-VALUE> 1,107,249,890
<RECEIVABLES> 31,428,924
<ASSETS-OTHER> 584,739
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,139,263,553
<PAYABLE-FOR-SECURITIES> 13,292,139
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,740,821
<TOTAL-LIABILITIES> 18,032,960
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,064,396,125
<SHARES-COMMON-STOCK> 99,154,705
<SHARES-COMMON-PRIOR> 93,365,816
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (24,938,101)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 81,772,569
<NET-ASSETS> 1,121,230,593
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 71,328,838
<OTHER-INCOME> 0
<EXPENSES-NET> 9,452,796
<NET-INVESTMENT-INCOME> 61,876,042
<REALIZED-GAINS-CURRENT> (6,450,845)
<APPREC-INCREASE-CURRENT> 50,351,593
<NET-CHANGE-FROM-OPS> 105,776,790
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (61,876,042)
<NUMBER-OF-SHARES-SOLD> 194,658,081
<NUMBER-OF-SHARES-REDEEMED> (156,797,816)
<SHARES-REINVESTED> 27,600,737
<NET-CHANGE-IN-ASSETS> 109,361,750
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (18,487,254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,323,382
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,912,387
<AVERAGE-NET-ASSETS> 669,132,000
<PER-SHARE-NAV-BEGIN> 10.84
<PER-SHARE-NII> 0.63
<PER-SHARE-GAIN-APPREC> 0.47
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.63)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.31
<EXPENSE-RATIO> 1.02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB003
<NAMHIGH YIELD SERIES (CLASS C)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 1,025,477,321
<INVESTMENTS-AT-VALUE> 1,107,249,890
<RECEIVABLES> 31,428,924
<ASSETS-OTHER> 584,739
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,139,263,553
<PAYABLE-FOR-SECURITIES> 13,292,139
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,740,821
<TOTAL-LIABILITIES> 18,032,960
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,064,396,125
<SHARES-COMMON-STOCK> 99,154,705
<SHARES-COMMON-PRIOR> 93,365,816
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (24,938,101)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 81,772,569
<NET-ASSETS> 1,121,230,593
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 71,328,838
<OTHER-INCOME> 0
<EXPENSES-NET> 9,452,796
<NET-INVESTMENT-INCOME> 61,876,042
<REALIZED-GAINS-CURRENT> (6,450,845)
<APPREC-INCREASE-CURRENT> 50,351,593
<NET-CHANGE-FROM-OPS> 105,776,790
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (61,876,042)
<NUMBER-OF-SHARES-SOLD> 194,658,081
<NUMBER-OF-SHARES-REDEEMED> (156,797,816)
<SHARES-REINVESTED> 27,600,737
<NET-CHANGE-IN-ASSETS> 109,361,750
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (18,487,254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,323,382
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,912,387
<AVERAGE-NET-ASSETS> 14,932,000
<PER-SHARE-NAV-BEGIN> 10.84
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> 0.47
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.61)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.31
<EXPENSE-RATIO> 1.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB004
<NAMHIGH YIELD SERIES (CLASS Z)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 1,025,477,321
<INVESTMENTS-AT-VALUE> 1,107,249,890
<RECEIVABLES> 31,428,924
<ASSETS-OTHER> 584,739
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,139,263,553
<PAYABLE-FOR-SECURITIES> 13,292,139
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,740,821
<TOTAL-LIABILITIES> 18,032,960
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,064,396,125
<SHARES-COMMON-STOCK> 99,154,705
<SHARES-COMMON-PRIOR> 93,365,816
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (24,938,101)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 81,772,569
<NET-ASSETS> 1,121,230,593
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 71,328,838
<OTHER-INCOME> 0
<EXPENSES-NET> 9,452,796
<NET-INVESTMENT-INCOME> 61,876,042
<REALIZED-GAINS-CURRENT> (6,450,845)
<APPREC-INCREASE-CURRENT> 50,351,593
<NET-CHANGE-FROM-OPS> 105,776,790
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (61,876,042)
<NUMBER-OF-SHARES-SOLD> 194,658,081
<NUMBER-OF-SHARES-REDEEMED> (156,797,816)
<SHARES-REINVESTED> 27,600,737
<NET-CHANGE-IN-ASSETS> 109,361,750
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (18,487,254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,323,382
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,912,387
<AVERAGE-NET-ASSETS> 6,064,000
<PER-SHARE-NAV-BEGIN> 10.83
<PER-SHARE-NII> 0.68
<PER-SHARE-GAIN-APPREC> 0.47
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.68)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.30
<EXPENSE-RATIO> 0.52
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB001
<NAMINSURED SERIES (CLASS A)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 438,670,225
<INVESTMENTS-AT-VALUE> 459,075,816
<RECEIVABLES> 6,252,241
<ASSETS-OTHER> 36,422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 465,364,479
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,658,872
<TOTAL-LIABILITIES> 2,658,872
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 439,763,742
<SHARES-COMMON-STOCK> 41,860,157
<SHARES-COMMON-PRIOR> 46,501,727
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,430,211
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,511,654
<NET-ASSETS> 462,705,607
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 26,886,125
<OTHER-INCOME> 0
<EXPENSES-NET> 4,511,809
<NET-INVESTMENT-INCOME> 22,374,316
<REALIZED-GAINS-CURRENT> 7,419,069
<APPREC-INCREASE-CURRENT> 10,877,794
<NET-CHANGE-FROM-OPS> 40,671,179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (10,609,577)
<DISTRIBUTIONS-OTHER> (22,545,438)
<NUMBER-OF-SHARES-SOLD> 17,849,201
<NUMBER-OF-SHARES-REDEEMED> (89,200,577)
<SHARES-REINVESTED> 19,222,401
<NET-CHANGE-IN-ASSETS> (44,612,811)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5,791,841
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,469,913
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,420,658
<AVERAGE-NET-ASSETS> 222,115,000
<PER-SHARE-NAV-BEGIN> 10.90
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> 0.40
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.78)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.05
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB002
<NAMINSURED SERIES (CLASS B)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 438,670,225
<INVESTMENTS-AT-VALUE> 459,075,816
<RECEIVABLES> 6,252,241
<ASSETS-OTHER> 36,422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 465,364,479
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,658,872
<TOTAL-LIABILITIES> 2,658,872
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 439,763,742
<SHARES-COMMON-STOCK> 41,860,157
<SHARES-COMMON-PRIOR> 46,501,727
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,430,211
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,511,654
<NET-ASSETS> 462,705,607
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 26,886,125
<OTHER-INCOME> 0
<EXPENSES-NET> 4,511,809
<NET-INVESTMENT-INCOME> 22,374,316
<REALIZED-GAINS-CURRENT> 7,419,069
<APPREC-INCREASE-CURRENT> 10,877,794
<NET-CHANGE-FROM-OPS> 40,671,179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (10,609,577)
<DISTRIBUTIONS-OTHER> (22,545,438)
<NUMBER-OF-SHARES-SOLD> 17,849,201
<NUMBER-OF-SHARES-REDEEMED> (89,200,577)
<SHARES-REINVESTED> 19,222,401
<NET-CHANGE-IN-ASSETS> (44,612,811)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5,791,841
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,469,913
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,420,658
<AVERAGE-NET-ASSETS> 270,553,000
<PER-SHARE-NAV-BEGIN> 10.91
<PER-SHARE-NII> 0.49
<PER-SHARE-GAIN-APPREC> 0.40
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.74)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.06
<EXPENSE-RATIO> 1.09
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB003
<NAMINSURED SERIES (CLASS C)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 438,670,225
<INVESTMENTS-AT-VALUE> 459,075,816
<RECEIVABLES> 6,252,241
<ASSETS-OTHER> 36,422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 465,364,479
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,658,872
<TOTAL-LIABILITIES> 2,658,872
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 439,763,742
<SHARES-COMMON-STOCK> 41,860,157
<SHARES-COMMON-PRIOR> 46,501,727
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,430,211
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,511,654
<NET-ASSETS> 462,705,607
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 26,886,125
<OTHER-INCOME> 0
<EXPENSES-NET> 4,511,809
<NET-INVESTMENT-INCOME> 22,374,316
<REALIZED-GAINS-CURRENT> 7,419,069
<APPREC-INCREASE-CURRENT> 10,877,794
<NET-CHANGE-FROM-OPS> 40,671,179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (10,609,577)
<DISTRIBUTIONS-OTHER> (22,545,438)
<NUMBER-OF-SHARES-SOLD> 17,849,201
<NUMBER-OF-SHARES-REDEEMED> (89,200,577)
<SHARES-REINVESTED> 19,222,401
<NET-CHANGE-IN-ASSETS> (44,612,811)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5,791,841
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,469,913
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,420,658
<AVERAGE-NET-ASSETS> 1,142,000
<PER-SHARE-NAV-BEGIN> 10.91
<PER-SHARE-NII> 0.46
<PER-SHARE-GAIN-APPREC> 0.40
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.71)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.06
<EXPENSE-RATIO> 1.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB004
<NAMINSURED SERIES (CLASS Z)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 438,670,225
<INVESTMENTS-AT-VALUE> 459,075,816
<RECEIVABLES> 6,252,241
<ASSETS-OTHER> 36,422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 465,364,479
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,658,872
<TOTAL-LIABILITIES> 2,658,872
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 439,763,742
<SHARES-COMMON-STOCK> 41,860,157
<SHARES-COMMON-PRIOR> 46,501,727
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,430,211
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,511,654
<NET-ASSETS> 462,705,607
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 26,886,125
<OTHER-INCOME> 0
<EXPENSES-NET> 4,511,809
<NET-INVESTMENT-INCOME> 22,374,316
<REALIZED-GAINS-CURRENT> 7,419,069
<APPREC-INCREASE-CURRENT> 10,877,794
<NET-CHANGE-FROM-OPS> 40,671,179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (10,609,577)
<DISTRIBUTIONS-OTHER> (22,545,438)
<NUMBER-OF-SHARES-SOLD> 17,849,201
<NUMBER-OF-SHARES-REDEEMED> (89,200,577)
<SHARES-REINVESTED> 19,222,401
<NET-CHANGE-IN-ASSETS> (44,612,811)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5,791,841
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,469,913
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,420,658
<AVERAGE-NET-ASSETS> 173,000
<PER-SHARE-NAV-BEGIN> 11
<PER-SHARE-NII> 1
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11
<EXPENSE-RATIO> 1
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB001
<NAMINTERMEDIATE SERIES (CLASS A)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 37,235,565
<INVESTMENTS-AT-VALUE> 38,500,097
<RECEIVABLES> 619,585
<ASSETS-OTHER> 852
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,120,534
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 334,169
<TOTAL-LIABILITIES> 334,169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37,231,257
<SHARES-COMMON-STOCK> 3,586,699
<SHARES-COMMON-PRIOR> 4,176,360
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 290,576
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,264,532
<NET-ASSETS> 38,786,365
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,205,779
<OTHER-INCOME> 0
<EXPENSES-NET> 656,814
<NET-INVESTMENT-INCOME> 1,548,965
<REALIZED-GAINS-CURRENT> 339,713
<APPREC-INCREASE-CURRENT> 816,387
<NET-CHANGE-FROM-OPS> 2,705,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (201,650)
<DISTRIBUTIONS-OTHER> (1,548,965)
<NUMBER-OF-SHARES-SOLD> 3,202,633
<NUMBER-OF-SHARES-REDEEMED> (10,710,780)
<SHARES-REINVESTED> 1,116,810
<NET-CHANGE-IN-ASSETS> (5,436,887)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 152,513
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 207,968
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 649,283
<AVERAGE-NET-ASSETS> 13,591,000
<PER-SHARE-NAV-BEGIN> 10.59
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> 0.28
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.49)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.81
<EXPENSE-RATIO> 1.31
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB002
<NAMINTERMEDIATE SERIES (CLASS B)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 37,235,565
<INVESTMENTS-AT-VALUE> 38,500,097
<RECEIVABLES> 619,585
<ASSETS-OTHER> 852
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,120,534
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 334,169
<TOTAL-LIABILITIES> 334,169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37,231,257
<SHARES-COMMON-STOCK> 3,586,699
<SHARES-COMMON-PRIOR> 4,176,360
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 290,576
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,264,532
<NET-ASSETS> 38,786,365
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,205,779
<OTHER-INCOME> 0
<EXPENSES-NET> 656,814
<NET-INVESTMENT-INCOME> 1,548,965
<REALIZED-GAINS-CURRENT> 339,713
<APPREC-INCREASE-CURRENT> 816,387
<NET-CHANGE-FROM-OPS> 2,705,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (201,650)
<DISTRIBUTIONS-OTHER> (1,548,965)
<NUMBER-OF-SHARES-SOLD> 3,202,633
<NUMBER-OF-SHARES-REDEEMED> (10,710,780)
<SHARES-REINVESTED> 1,116,810
<NET-CHANGE-IN-ASSETS> (5,436,887)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 152,513
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 207,968
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 649,283
<AVERAGE-NET-ASSETS> 27,175,000
<PER-SHARE-NAV-BEGIN> 10.59
<PER-SHARE-NII> 0.39
<PER-SHARE-GAIN-APPREC> 0.28
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.45)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.81
<EXPENSE-RATIO> 1.71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB003
<NAMINTERMEDIATE SERIES (CLASS C)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 37,235,565
<INVESTMENTS-AT-VALUE> 38,500,097
<RECEIVABLES> 619,585
<ASSETS-OTHER> 852
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,120,534
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 334,169
<TOTAL-LIABILITIES> 334,169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37,231,257
<SHARES-COMMON-STOCK> 3,586,699
<SHARES-COMMON-PRIOR> 4,176,360
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 290,576
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,264,532
<NET-ASSETS> 38,786,365
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,205,779
<OTHER-INCOME> 0
<EXPENSES-NET> 656,814
<NET-INVESTMENT-INCOME> 1,548,965
<REALIZED-GAINS-CURRENT> 339,713
<APPREC-INCREASE-CURRENT> 816,387
<NET-CHANGE-FROM-OPS> 2,705,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (201,650)
<DISTRIBUTIONS-OTHER> (1,548,965)
<NUMBER-OF-SHARES-SOLD> 3,202,633
<NUMBER-OF-SHARES-REDEEMED> (10,710,780)
<SHARES-REINVESTED> 1,116,810
<NET-CHANGE-IN-ASSETS> (5,436,887)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 152,513
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 207,968
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 649,283
<AVERAGE-NET-ASSETS> 381,000
<PER-SHARE-NAV-BEGIN> 10.59
<PER-SHARE-NII> 0.36
<PER-SHARE-GAIN-APPREC> 0.28
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.42)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.81
<EXPENSE-RATIO> 1.96
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMEPRUDENTIAL MUNICIPAL BOND FUND
<SERIES>
<NUMB004
<NAMINTERMEDIATE SERIES (CLASS Z)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 37,235,565
<INVESTMENTS-AT-VALUE> 38,500,097
<RECEIVABLES> 619,585
<ASSETS-OTHER> 852
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,120,534
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 334,169
<TOTAL-LIABILITIES> 334,169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37,231,257
<SHARES-COMMON-STOCK> 3,586,699
<SHARES-COMMON-PRIOR> 4,176,360
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 290,576
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,264,532
<NET-ASSETS> 38,786,365
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,205,779
<OTHER-INCOME> 0
<EXPENSES-NET> 656,814
<NET-INVESTMENT-INCOME> 1,548,965
<REALIZED-GAINS-CURRENT> 339,713
<APPREC-INCREASE-CURRENT> 816,387
<NET-CHANGE-FROM-OPS> 2,705,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (201,650)
<DISTRIBUTIONS-OTHER> (1,548,965)
<NUMBER-OF-SHARES-SOLD> 3,202,633
<NUMBER-OF-SHARES-REDEEMED> (10,710,780)
<SHARES-REINVESTED> 1,116,810
<NET-CHANGE-IN-ASSETS> (5,436,887)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 152,513
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 207,968
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 649,283
<AVERAGE-NET-ASSETS> 447,000
<PER-SHARE-NAV-BEGIN> 11
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11
<EXPENSE-RATIO> 1
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
HIGH YIELD SERIES
1. Name of Issuer
New York City
2. Date of Purchase
4/11/97
3. Number of Securities Purchased
50,000
4. Dollar Amount of Purchase
$4,906,950
5. Price Per Unit
$98.139
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Smith Barney
7. Other Members of the Underwriting Syndicate
Smith Barney
Merrill Lynch & Co.
Artemis Capital Group
Goldman, Sachs, & Co.
Prudential Securities Inc.
First Albany Corp.
Pryor, McClendon, Counts & Co., Inc.
JP Morgan & Co.
Morgan Stanley & Co.
Cambridge Partners LLC
Samuel A. Ramirez & Co.
PaineWebber Inc.
Bear, Stearns & Co. Inc.
Lehman Brothers
William E. Simon & Sons
M.R. Beal & Company
A.G. Edwards & Sons
Lebenthal & Co., Inc.
Oppenheimer & Co, Inc.
Advest, Inc.
Roosevelt & Cross Incorporated
Siebert Brandford Shank & Co.
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
INSURED SERIES
1. Name of Issuer
Puerto Rico Elec Pwr Auth
2. Date of Purchase
5/9/97
3. Number of Securities Purchased
70,000
4. Dollar Amount of Purchase
$6,925,240
5. Price Per Unit
$98.932
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Bear Sterns
7. Other Members of the Underwriting Syndicate
Smith Barney
Merrill Lynch & Co.
Goldman, Sachs, & Co.
Prudential Securities Inc.
Morgan Stanley & Co.
PaineWebber Inc.
Lehman Brothers
Citicorp Securities
Bear, Sterns & Co. Inc.
Oriental Financial Services Corp.
Clark Melvin Securities Incorporated
Dean Witter Reynolds, Inc.
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
INSURED SERIES
1. Name of Issuer
Puerto Rico Commonwealth Pub Inpt GO Ult
2. Date of Purchase
4/11/97
3. Number of Securities Purchased
57,000
4. Dollar Amount of Purchase
$5,880,177
5. Price Per Unit
$103.161
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Morgan Stanley
7. Other Members of the Underwriting Syndicate
Smith Barney
Merrill Lynch & Co.
Goldman, Sachs, & Co.
Prudential Securities Inc.
Morgan Stanley & Co.
PaineWebber Inc.
Lehman Brothers
Citicorp Securities
Bear, Sterns & Co. Inc.
Oriental Financial Services Corp.
Clark Melvin Securities Incorporated
Dean Witter Reynolds, Inc.
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
INTERMEDIATE SERIES
1. Name of Issuer
Maine St. Hsg. Auth Mtg
2. Date of Purchase
8/28/97
3. Number of Securities Purchased
12,000
4. Dollar Amount of Purchase
$1,200,000
5. Price Per Unit
$100.000
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Goldman Sachs
7. Other Members of the Underwriting Syndicate
Smith Barney
Goldman, Sachs, & Co.
Prudential Securities Inc.
Morgan Stanley & Co.
PaineWebber Inc.
John Nuveen & Co. Inc.
A.G. Edwards & Sons, Inc.
Fleet Securities, Inc.
Key Capital Markets, Inc.
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
INSURED SERIES
1. Name of Issuer
Maine St. Hsg. Auth Mtg
2. Date of Purchase
8/28/97
3. Number of Securities Purchased
12,000
4. Dollar Amount of Purchase
$1,200,000
5. Price Per Unit
$100.000
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Goldman Sachs
7. Other Members of the Underwriting Syndicate
Smith Barney
Goldman, Sachs, & Co.
Prudential Securities Inc.
Morgan Stanley & Co.
PaineWebber Inc.
John Nuveen & Co. Inc.
A.G. Edwards & Sons, Inc.
Fleet Securities, Inc.
Key Capital Markets, Inc.
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
Intermediate Series
1. Name of Issuer
New York City General Obligation
2. Date of Purchase
12-11-97
3. Number of Securities Purchased
10,000
4. Dollar Amount of Purchase
$1,037,620
5. Price Per Unit
$103.762
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
J.P. Morgan
7. Other Members of the Underwriting Syndicate
Salomon Smith Barney
Merrill Lynch & Co.
Artemis Capital Group
Goldman, Sachs, & Co.
Prudential Securities Inc.
First Albany Corp.
Pryor, McClendon, Counts & Co., Inc.
Morgan Stanley & Co.
Cambridge Partners LLC
Samuel A. Ramirez & Co.
PaineWebber Inc.
Bear, Stearns & Co. Inc.
William E. Simon & Sons
M.R. Beal & Company
A.G. Edwards & Sons
Lebenthal & Co., Inc.
Oppenheimer & Co, Inc.
Advest, Inc.
Roosevelt & Cross Incorporated
Siebert Brandford Shank & Co.
Fleet Securities
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
High Yield Series
1. Name of Issuer
Massachusetts Water Resources Authority
2. Date of Purchase
1-15-98
3. Number of Securities Purchased
32,500
4. Dollar Amount of Purchase
$3,573,830
5. Price Per Unit
$109.964
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Goldman Sachs
7. Other Members of the Underwriting Syndicate
Artemis Capital Group
Goldman, Sachs, & Co.
Prudential Securities Inc.
PaineWebber Inc.
Bear, Stearns & Co. Inc.
M.R. Beal & Company
Lehman Brothers
J.P. Morgan
Tucker Anthony
For the fiscal year ended (a) 4/30/98
File number (c) 811-4930
SUB-ITEM 77 0
EXHIBITS
Transactions Effected Pursuant to Rule 10f-3
Intermediate Series
1. Name of Issuer
Massachusetts Bay and Transit General Trans
2. Date of Purchase
2-19-98
3. Number of Securities Purchased
40,000
4. Dollar Amount of Purchase
$3,649,840
5. Price Per Unit
$91.246
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Lehman Brothers
7. Other Members of the Underwriting Syndicate
Salomon Smith Barney
Merrill Lynch & Co.
Artemis Capital Group
Goldman, Sachs, & Co.
Prudential Securities Inc.
PaineWebber Inc.
Bear, Stearns & Co. Inc.
M.R. Beal & Company
Fleet Securities
Lehman Brothers
Cowen & Company
Bank Boston N.A.
J.P. Morgan Securities
State Street Bank and Trust Company
Tucker Anthony Incorporated
June 29, 1998
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Prudential Municipal Bond Fund
File No.: 811-4930
Gentleman:
Enclosed please find one copy of the Annual
Report on Form N-SAR for the above-referenced Fund
for the fiscal year ended April 30, 1998.
The enclosed is being filed electronically
via the EDGAR System.
Very truly
yours,
/s/ Deborah A.
Docs
Deborah A. Docs
Assistant
Secretary
June 18, 1998
To the Shareholders and Board of Trustees of
Prudential Municipal Bond Fund
In planning and performing our audit of the
financial statements of Prudential Municipal Bond
Fund (consisting of High Yield, Insured and
Intermediate Series, collectively referred to
hereafter as the "Fund") for the year ended April
30, 1998, we considered its internal control,
including control activities for safeguarding
securities, in order to determine our auditing
procedures for the purpose of expressing our
opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to
provide assurance on internal control.
The management of the Fund is responsible for
establishing and maintaining internal control. In
fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of controls.
Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing
financial statements for external purposes that
are fairly presented in conformity with generally
accepted accounting principles. Those controls
include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal
control, errors or fraud may occur and not be
detected. Also, projection of any evaluation of
internal control to future periods is subject to
the risk that it may become inadequate because of
changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal
control that might be material weaknesses under
standards established by the American Institute of
Certified Public Accountants. A material weakness
is a condition in which the design or operation of
one or more of the internal control components
does not reduce to a relatively low level the risk
that misstatements caused by error of fraud in
amounts that would be material in relation to the
financial statements being audited may occur and
not be detected within a timely period by
employees in the normal course of performing their
assigned functions. However, we noted no matters
involving internal control and its operation,
including controls for safeguarding securities,
that we consider to be material weaknesses as
defined above as of April 30, 1998.
This report is intended solely for the information
and use of management and the Board of Trustees of
the Fund and the Securities and Exchange
Commission.
PRICE WATERHOUSE LLP
