Japan bond yields hit multi-week highs on US Treasury moves 

By Satoshi Sugiyama

TOKYO, Nov 13 (Reuters) - Japanese government bond (JGB) yields jumped to multi-week highs on Friday, tracking moves in US Treasuries overnight, as traders assessed the outlook for the US-Iran war and the Federal Reserve's rate-hike path.

Here are a few details:

• The benchmark 10-year JGB yield rose 7 basis points (bps) to 2.860%, its highest level since October 22. Yields move inversely to bond prices. The 5-year yield rose 5.5 bps to 2.25%, after reaching 2.265%, its highest since October 29.

• US Treasury yields rose overnight after US President Donald Trump said the US does not need a deal with Iran, and as traders weighed the chance of a larger-than-usual Federal Reserve rate hike next month

• The Japanese yen briefly touched the psychologically important level of 160 against the US dollar overnight, as traders focused on wide interest-rate differentials amid growing bets on further Fed hikes

• "Expectations for a rate hike are likely to strengthen, making bonds more prone to selling,” said Hiroshi Watanabe, chief economist at Sony Financial Group

• Other tenors are yet to be traded as of 0029 GMT