JGB yields rise across curve on BOJ hike bets, higher global yields

By Rocky Swift

TOKYO, June 3 (Reuters) - Japanese government bond (JGB) yields rose across the curve on Wednesday, supported by firmer Bank of Japan rate-hike expectations and a global backdrop of elevated yields.

Here are a few details:

* The benchmark 10-year JGB yield climbed 2 basis points (bps) to 2.585%. Yields move inversely to bond prices.

* U.S. Treasury and euro zone yields have remained elevated in recent weeks on persistent inflation concerns and shifting expectations for major central banks.

* Markets are awaiting a speech by BOJ Governor Kazuo Ueda later on Wednesday for further policy clues after recent hawkish signals and inflationary risks tied to the Iran war-driven energy shock.

* "Attention is focused on whether he will offer any hints regarding the June policy meeting or the future path of interest rate hikes. Although selling pressure is likely to dominate initially as a reaction to yesterday's sharp rebound, underlying support from supply and demand remains, and the market is expected to trade nervously," Sony Financial Group senior economist Takayuki Miyajima said in a note.

* Finance Minister Satsuki Katayama said on Wednesday that she is largely in alignment with Ueda on various aspects.

* The yield on the 40-year JGB, Japan's longest tenor, added 1 bp to 3.755%, while the 30-year yield was unchanged at 3.845%.

* The 20-year yield advanced 1 bp to 3.51%.

* The two-year yield, the one most sensitive to BOJ's policy rates, advanced 2.5 bps to 1.400%, while the five-year yield gained 3 bps to 1.885%.