Stocks steady as oil cools; Treasury yields hit four-month high

LONDON/SINGAPORE, April 8 - Global shares were little changed on Monday as oil prices retreated from a six-month peak, while U.S. bond yields hit their highest since late November as investors continued to rein in bets on Federal Reserve interest rate cuts.

Stock markets have made a rocky start to the second quarter as the risk of a broader conflict in the Middle East has pushed up oil prices. Strong U.S. economic data has also added to investor concerns about how much central banks will be able to lower borrowing costs. Brent crude was last down 0.9% at $90.33 a barrel, after hitting a six-month high of $91.91 last week, when factors including a suspected Israeli attack on Iran's embassy in Syria added to upward pressure.

Market pricing on Monday showed traders see a roughly 48% chance of a cut in June, down from around 59% a week ago. "While one should not attach too much importance to one payroll report... if the data remains robust we will have to rethink our June call." The European Central Bank sets interest rates on Thursday, with investors looking for a green light from officials that rate cuts will start in June after inflation slowed more than expected to 2.4% in March.

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