Germany's two-year government bond yield briefly rose to 3% on Thursday morning for the first time since the height of U.S. regional banking turmoil in March.

The policy-sensitive two-year yield rose as much as 2 basis points (bps) to 3%, its highest since March 15. It was last up 1 bp at 2.99%.

Global bond yields have jumped this week, after surprise rate hikes from the Reserve Bank of Australia and Bank of Canada served as a reminder that policymakers still have further to go as they attempt to bring inflation down towards target. (Reporting by Samuel Indyk; Editing by Amanda Cooper)