SECURITIES

$25 Billion in Fixed Notes to Be Sold: The U.S. Treasury will sell $15 billion in two-year notes Tuesday and $10.75 billion in five-year notes Wednesday. At its regular weekly auction today, the Treasury will sell $23.6 billion in three- and six-month bills. About $7.8 billion in municipal debt is scheduled for sale next week, 43% more than the 1992 weekly average. However, many of the planned offerings may be postponed due to a recent rise in interest rates. All of the sales will be in long-term bonds. The Los Angeles County Transportation Commission plans to sell $500 million in sales tax revenue bonds through underwriters led by Lehman Bros.