LONDON- Euro zone government bond yields eased for a second day on Tuesday, ahead of a busy day for macro data, as investors pondered what a victory by Donald Trump in the U.S. presidential election might mean for financial markets.

Germany's ZEW index of economic expectations, along with the European Central Bank's lending survey could help to set the tone, analysts said.

Thursday brings the ECB's meeting, which is likely to yield no change in monetary policy.

"With macro pointers likely to come in rather subdued today, we expect 10y Bond yields to remain below the 2.5% mark and suggest buying dips," Commerzbank rate strategist Hauke Siemssen said.

* German 10-year yields, the benchmark for the euro zone bloc, fell 1.4 basis points to 2.46%.

* Two-year German yields were flat at 2.793%.

* Italian 10-year yields eased 1.7 bps to 3.73%, leaving the premium over Bunds 5.5 bps wider at 127.1 bps.

* The spread between U.S. 10-year Treasuries and German Bunds was mostly unchanged at 174 bps.

* On Monday, the spread posted its largest daily rise since late June, reflecting the nervousness around holding U.S. sovereign debt, given the concern about a possible deterioration in government finances under a Trump-led administration.

(Reporting by Amanda Cooper; Editing by Barbara Lewis)