UPDATE 1-Investors scramble for euro zone govt debt in record numbers

* Italian, Belgian German bonds follow record Spanish demand

* Bonds hugely oversubscribed in busy January

* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr (Recasts with record demand for new bond issuance)

LONDON, Jan 15 (Reuters) - The rush for euro zone government debt showed no signs of slowing on Wednesday, as investors flocked to new fund raisings by Italy and Belgium a day after Spain saw record demand.

January has seen a flurry of issuance from European governments including Ireland, Portugal, France and Cyprus, seeking to take advantage of demand for long-dated government debt despite the low yields on offer.

Orders for a new 30-year bond Italy have already topped 38 billion euros ($42.29 billion), one of the deal's lead managers said.

Belgium has received more than 23 billion euros of orders for a 10-year benchmark in the early stages of marketing on Wednesday, one of the bond's lead managers said.

"The supply has really been taken down by strides across all sectors (of investors). Most of the order books are very well oversubscribed," said Christoph Rieger, head of rates and credit research at Commerzbank.

Peter Chatwell, an analyst at Mizuho, attributed the demand to the vast amount of central bank-provided liquidity in the global financial system and investors' view that euro zone interest rates would not be rising any time soon.

"If you have positive yields on every 30-year bond in Europe, investors want to buy them while they can," he said.

On Tuesday, Spain attracted the largest order book ever for a eurozone bond sale - more than 52 billion euros - with its new 10 billion euro, 10-year bond, shortly after the country formed a new government and broke a lengthy political impasse.

Germany is also tapping a 30-year bund for 1.5 billion euros.

In Wednesday's daily price action, euro zone bond yields fell from two-week highs after U.S. Treasury Secretary Steven Mnuchin said tariffs would remain in place following the signing of an initial U.S.-China trade deal, injecting some caution into markets.

Analysts said that after the recent run higher for yields, the pause reflected position squaring as well as caution about the trade deal and future tensions between the United States and China.

The 10-year German bond yield fell 2 basis points to -0.194%, still not too far off the more than six-month highs of -0.157% touched at the start of January.

"There seems to be some second thoughts about the phase one trade deal," said Commerzbank's Rieger, referring to the initial U.S.-China agreement.

Rieger said it may be a case of "buy the rumour sell the fact" given the rally in markets ahead of the deal's signing, but solid risk appetite meant that over the next few weeks German yields should hold above -0.2% and move higher.

The German economy grew at 0.6% in 2019, its slowest rate since 2013, data showed.

The French 10-year yield weakened 3 basis points to 0.057% , while Belgian and Dutch yields were 2-3 bps lower.

Italian bond yields were mildly lower in early trade, with the 10-year at 1.38% and the 30-year at 2.46% . ($1 = 0.8986 euros) (Reporting by Tommy Reggiori Wilkes; Editing by Kirsten Donovan & Kim Coghill)