On Tuesday, the eurozone bond market focuses on Dutch and German government bond supply and PMI data

(1) On Tuesday, government bond supply in the Eurozone will be limited to the Netherlands and Germany: the Netherlands plans to issue €1 billion to €2 billion of DSL government bonds maturing in January 2056 with a 3.50% coupon; Germany will auction €5 billion of government bonds maturing in June 2028 with a 2.50% coupon. (2) On the data front, the main driver of the day will be the release of the preliminary June Purchasing Managers' Index (PMI) figures for France, Germany, and the Eurozone as a whole. (3) According to Germany's Commerzbank analyst Christoph Rieger, against the backdrop of easing tensions in the Middle East, this PMI data will provide an initial clue about business sentiment. Compared to the survey of the German Institute for Economic Research (which was launched before the US-Iran memorandum of understanding was announced), PMI data collection began in the middle of the month, and should therefore better reflect the improvement in market sentiment.