JGB yields jump to track U.S. yields higher

TOKYO, July 30 (Reuters) - Japanese government bond (JGB) yields jumped on Thursday, tracking yields on U.S. long bonds, which rose on worries that the Federal Reserve may fall behind the curve in coping with inflation.

Here are a few details:

• The 10-year JGB yield JP10YTN=JBTC rose 5.5 basis points (bps) to 2.800%. The five-year yield JP5YTN=JBTC rose 4.5 bps to 2.025%. Yields move inversely to bond prices.
• Yields on the 30-year U.S. Treasuries climbed to 19-year highs in Asia on Thursday as doubts over the Fed's resolve to rein in inflation prompted investors to seek more insurance against inflation risks.
• Japan's two-year yield JP2YTN=JBTC was flat at 1.47% after an auction for bonds with the same maturity witnessed a moderately firm outcome.
• "The auction received decent demand because the yield level was high, and that boosted appetite from banks," said Katsutoshi Inadome, senior strategist at Sumitomo Mitsui Trust Asset Management.
• The market is gauging the impact on JGBs of the massive earthquake that hit Japan's southern Kumamoto Prefecture earlier this week.
• Yields could go either way, as the damage could lead Japan to issue more bonds to finance reconstruction, while supply chain disruptions could hurt the economy, said Inadome.
• The 30-year yield JP30YTN=JBTC rose 3 bps to 3.960%.