Global bond and equity markets stabilized Friday as oil prices retreated from a four-month high, though Brent remained on track for a weekly gain of about 10% and continued to fuel inflation concerns. Brent crude reached $109.97 a barrel before falling nearly 2% to $105.90. Restricted oil flows through the Strait of Hormuz, U.S.-Iran attacks and the Iran-aligned Houthis’ seizure of Yemen’s port of Mocha heightened concerns about a prolonged conflict and risks to Saudi exports in the Red Sea. The benchmark 10-year U.S. Treasury yield was little changed at 4.946% after touching 4.979%, its highest in almost three years, while the 30-year yield reached a 19-year high of 5.3836% and the two-year yield climbed to a 14-month peak of 4.5961%. Markets priced about a 67% chance of a Federal Reserve rate increase this month, ahead of August U.S. consumer-price data. JPMorgan analysts now expect eight of nine developed-market central banks to raise rates by year-end. The European Central Bank raised rates Thursday for the second time this year, while European and U.S. equity futures recovered modestly after sharp weekly losses in Europe and Asia. The dollar held near 99.04 and gold rose 0.6% to $4,342 an ounce.