TOKYO, May 15 (Reuters) - Japanese government bond

yields climbed to fresh highs on Thursday as they tracked a rise

in U.S. peers before being pressured further by weak demand at a

five-year note auction.

The 10-year JGB yield rose as much as 3 basis

points (bps) to 1.48% for the first time since April 2, when

U.S. President Donald Trump upended markets globally with his

"Liberation Day" reciprocal tariffs.

Equivalent U.S. Treasury yields edged up to

4.55% in Asian hours, the highest since April 11, as investors

grew increasingly concerned about disagreements on the Trump

administration's tax cut and budget legislation currently in

Congress.

The five-year yield rose by 3.5 bps to 1% for

the second time this week, a level not seen since April 2.

The two-year JGB yield added 1.5 bps to 0.72%,

also for the second time this week. That level hadn't been seen

since April 3.

Superlong bond yields continued to soar against a backdrop

of persistent concerns about increased government spending ahead

of upper house elections slated for July.

The 30-year JGB yield rose as much as 6 bps

to 2.98%, a new high in LSEG data back to April 2003.

The 20-year yield advanced 5.5 bps to touch

2.41% for the first time since mid-April, when it marked a

19-year peak.

"It is highly likely that concerns about fiscal expansion

and the increase in government bond issuance will remain to some

extent in the market at least until around autumn," when

issuance plans are likely to be revealed, following the

unveiling of a supplementary budget, Mizuho analysts said.

"We should remain aware that the current uncertainty

regarding fiscal policy and vague concerns about the increase in

government bonds could further weigh on the market."