SAFECO TAXABLE BOND TRUST
NSAR-A/A, 1995-06-28
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<PAGE>      PAGE  1
000 A000000 03/31/95
000 C000000 833045
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 SAFECO TAXABLE BOND TRUST
001 B000000 811-5574
001 C000000 2065455176
002 A000000 SAFECO PLAZA S-2
002 B000000 SEATTLE
002 C000000 WA
002 D010000 98185
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 SAFECO HIGH-YIELD BOND FUND
007 C030100 N
007 C010200  2
007 C020200 SAFECO INTERMEDIATE-TERM U.S. TREASURY FUND
007 C030200 N
007 C010300  3
007 C020300 SAFECO GNMA FUND
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
007 C012300 23
<PAGE>      PAGE  2
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
008 A00AA01 SAFECO ASSET MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-8254
008 D01AA01 SEATTLE
008 D02AA01 WA
008 D03AA01 98185
011 A00AA01 SAFECO SECURITIES, INC.
011 B00AA01 8-13470
011 C01AA01 SEATTLE
011 C02AA01 WA
011 C03AA01 98185
012 A00AA01 SAFECO SERVICES CORPORATION
012 B00AA01 84-00138
012 C01AA01 SEATTLE
012 C02AA01 WA
012 C03AA01 98185
013 A00AA01 ERNST & YOUNG
013 B01AA01 SEATTLE
013 B02AA01 WA
013 B03AA01 98104
013 B04AA01 4086
015 A00AA01 BANK OF NEW YORK
015 B00AA01 S
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10015
015 E01AA01 X
015 A00AA02 U.S. BANK OF WASHINGTON, N.A.
015 B00AA02 C
015 C01AA02 SEATTLE
015 C02AA02 WA
015 C03AA02 98101
015 E01AA02 X
018  00AA00 Y
<PAGE>      PAGE  3
019 A00AA00 Y
019 B00AA00   23
019 C00AA00 SAFECOFUND
020 C000001      0
020 C000002      0
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        0
022 A000001 SHORT-TERM INVESTMENTS CO.-PRIME PORTFOLIO
022 B000001 74-1093914
022 C000001     19301
022 D000001     18030
022 A000002 MERRILL, LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000002 13-5674085
022 C000002     14007
022 D000002      6891
022 A000003 SMITH, BARNEY, SHEARSON & CO.
022 B000003 13-1912900
022 C000003     10556
022 D000003      3515
022 A000004 MORGAN STANLEY & CO., INC.
022 B000004 13-2655998
022 C000004         0
022 D000004     10827
022 A000005 SALOMON BROTHERS, INC.
022 B000005 13-3082694
022 C000005      8461
022 D000005       520
022 A000006 HSBC SECURITIES, INC.
022 B000006 13-2650272
022 C000006      3566
022 D000006      3488
022 A000007 SHEARSON, LEHMAN, HUTTON, INC.
022 B000007 13-2518466
022 C000007         0
022 D000007      4791
022 A000008 PAINEWEBBER, INC.
022 B000008 13-2638166
022 C000008         0
022 D000008      4219
022 A000009 BEAR, STEARNS, & CO., INC.
022 B000009 13-3299429
022 C000009       469
022 D000009      3643
022 A000010 DONALDSON, LUFKIN, JENRETT SECURITIES, CORP.
<PAGE>      PAGE  4
022 B000010 13-2741729
022 C000010      1960
022 D000010      1763
023 C000000      63299
023 D000000      63842
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 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027  000000 Y
029  00AA00 N
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030 B00AA00  0.00
030 C00AA00  0.00
031 A00AA00      0
031 B00AA00      0
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035  00AA00      0
036 B00AA00      0
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038  00AA00      0
039  00AA00 N
040  00AA00 N
042 A00AA00   0
042 B00AA00   0
042 C00AA00   0
042 D00AA00   0
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
043  00AA00      0
044  00AA00      0
049  00AA00 N
050  00AA00 N
<PAGE>      PAGE  5
051  00AA00 N
052  00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 Y
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 Y
056  00AA00 Y
057  00AA00 N
058 A00AA00 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
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
<PAGE>      PAGE  6
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
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070 N02AA00 N
070 O01AA00 Y
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070 P01AA00 N
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070 R01AA00 N
070 R02AA00 N
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083 A00AA00 N
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<PAGE>      PAGE  7
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028 C030100         0
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045  000100 Y
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<PAGE>      PAGE  8
048 K010100   750000
048 K020100 0.350
062 A000100 Y
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062 D000100   0.0
062 E000100   0.0
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   0.0
062 P000100  93.7
062 Q000100   0.0
062 R000100   4.6
063 A000100   0
063 B000100  7.9
064 A000100 Y
064 B000100 Y
065  000100 N
071 A000100      9422
071 B000100      7288
071 C000100     26247
071 D000100   56
072 A000100  6
072 B000100     1496
072 C000100        0
072 D000100        0
072 E000100        0
072 F000100       88
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072 H000100        0
072 I000100       34
072 J000100        5
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072 L000100        3
072 M000100        2
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072 O000100        0
072 P000100        8
072 Q000100        0
072 R000100        7
072 S000100        0
072 T000100        0
072 U000100        0
072 V000100        0
<PAGE>      PAGE  9
072 W000100        0
072 X000100      147
072 Y000100        0
072 Z000100     1349
072AA000100      153
072BB000100      404
072CC010100        0
072CC020100       53
072DD010100     1349
072DD020100        0
072EE000100        0
073 A010100   0.4100
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
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074 B000100        0
074 C000100        0
074 D000100    30073
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100     1498
074 J000100      102
074 K000100        0
074 L000100      884
074 M000100        0
074 N000100    32557
074 O000100        0
074 P000100        0
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100      451
074 S000100        0
074 T000100    32106
074 U010100     3819
074 U020100        0
074 V010100     8.41
074 V020100     0.00
074 W000100   0.0000
074 X000100     1384
074 Y000100        0
075 A000100        0
075 B000100    27836
076  000100     0.00
080 A000100 UNITED PACIFIC INSURANCE COMPANY
080 C000100     3000
081 A000100 N
<PAGE>      PAGE  10
081 B000100   0
082 A000100 N
082 B000100        0
028 A010200       200
028 A020200        31
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028 A040200       790
028 B010200       508
028 B020200        28
028 B030200         0
028 B040200       859
028 C010200       523
028 C020200        26
028 C030200         0
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028 D020200        27
028 D030200         0
028 D040200       509
028 E010200       223
028 E020200        24
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028 F020200        40
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028 F040200       585
028 G010200      2370
028 G020200       176
028 G030200         0
028 G040200      3234
028 H000200         0
045  000200 Y
046  000200 N
047  000200 Y
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048 A020200 0.550
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048 B020200 0.450
048 C010200   250000
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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
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<PAGE>      PAGE  11
048 H020200 0.000
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048 I020200 0.000
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048 K010200   750000
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062 I000200   0.0
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062 L000200   0.0
062 M000200  97.2
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062 O000200   0.0
062 P000200   0.0
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062 R000200   1.3
063 A000200   0
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064 B000200 N
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<PAGE>      PAGE  12
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072DD020200        0
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073 A010200   0.2600
073 A020200   0.0000
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075 B000200    12712
<PAGE>      PAGE  13
076  000200     0.00
080 A000200 UNITED PACIFIC INSURANCE COMPANY
080 C000200     3000
081 A000200 N
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082 A000200 N
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028 A010300      1258
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
074 X000300     2348
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080 A000300 UNITED PACIFIC INSURANCE COMPANY
080 C000300     3000
081 A000300 N
081 B000300   0
082 A000300 N
082 B000300        0
SIGNATURE   DAVID F. HILL                                
TITLE       PRESIDENT           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
   <NUMBER> 3
   <NAME> SAFECO GNMA FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLAR
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1995
<PERIOD-START>                             SEP-30-1995
<PERIOD-END>                               MAR-30-1995
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                           42,289
<INVESTMENTS-AT-VALUE>                          41,910
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
   <NUMBER> 1
   <NAME> SAFECO HIGH-YIELD BOND FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLAR
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1995
<PERIOD-START>                             SEP-30-1994
<PERIOD-END>                               MAR-31-1995
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                           30,995
<INVESTMENTS-AT-VALUE>                          30,073
<RECEIVABLES>                                      986
<ASSETS-OTHER>                                   1,498
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  32,557
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          451
<TOTAL-LIABILITIES>                                451
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        34,071
<SHARES-COMMON-STOCK>                            3,819
<SHARES-COMMON-PRIOR>                            3,183
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (922)
<NET-ASSETS>                                    32,106
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                1,496
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     147
<NET-INVESTMENT-INCOME>                          1,349
<REALIZED-GAINS-CURRENT>                         (251)
<APPREC-INCREASE-CURRENT>                         (53)
<NET-CHANGE-FROM-OPS>                            1,045
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (1,349)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          3,395
<NUMBER-OF-SHARES-REDEEMED>                    (2,842)
<SHARES-REINVESTED>                                 83
<NET-CHANGE-IN-ASSETS>                           4,894
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               88
<INTEREST-EXPENSE>                                   8
<GROSS-EXPENSE>                                    147
<AVERAGE-NET-ASSETS>                            27,836
<PER-SHARE-NAV-BEGIN>                             8.55
<PER-SHARE-NII>                                   0.41
<PER-SHARE-GAIN-APPREC>                         (0.14)
<PER-SHARE-DIVIDEND>                            (0.41)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.41
<EXPENSE-RATIO>                                   1.06
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
   <NUMBER> 2
   <NAME> SAFECO INTERNEDIATE-TERM U.S. TREASURY FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLAR
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1995
<PERIOD-START>                             SEP-30-1994
<PERIOD-END>                               MAR-31-1995
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                           12,595
<INVESTMENTS-AT-VALUE>                          12,405
<RECEIVABLES>                                      243
<ASSETS-OTHER>                                     161
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  12,809
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           51
<TOTAL-LIABILITIES>                                 51
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        13,329
<SHARES-COMMON-STOCK>                            1,301
<SHARES-COMMON-PRIOR>                            1,372
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (190)
<NET-ASSETS>                                    12,758
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  394
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      60
<NET-INVESTMENT-INCOME>                            334
<REALIZED-GAINS-CURRENT>                          (13)
<APPREC-INCREASE-CURRENT>                           92
<NET-CHANGE-FROM-OPS>                              413
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (334)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            244
<NUMBER-OF-SHARES-REDEEMED>                      (333)
<SHARES-REINVESTED>                                 18
<NET-CHANGE-IN-ASSETS>                           (609)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               34
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     60
<AVERAGE-NET-ASSETS>                            12,712
<PER-SHARE-NAV-BEGIN>                             9.74
<PER-SHARE-NII>                                   0.26
<PER-SHARE-GAIN-APPREC>                           0.07
<PER-SHARE-DIVIDEND>                            (0.26)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.81
<EXPENSE-RATIO>                                   0.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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