U.S. pension funds were expected to sell $33 billion of stocks around the end of the third quarter and move the proceeds into bonds, Goldman Sachs estimated, as a steep fixed-income selloff and stocks near record highs drove portfolios away from target allocations. The projected equity sales rank in the 98th percentile of Goldman's estimates since January 2000. The 10-year Treasury yield recorded its largest quarterly increase since the second quarter of 2009, making bonds more attractive to some investors while leaving advisers to contend with clients reluctant to add to a losing asset class. Commodity trading advisors were positioned to buy about $11.5 billion of global equities if markets stayed flat through the week, though gains or declines would alter those flows.