LONDON, June 11 (Reuters) - PIMCO, one of the world's

biggest bond investors, said on Tuesday that spreads on French

government bonds could become attractive in the not-too distant

future.

"We didn't quite decide where, but at a certain point French

spreads become attractive," PIMCO's CIO for fixed income Andrew

Balls told reporters.

Asked at what point that could be, he added "not too far"

from the current levels following the moves in recent days.

French 10-year yields have risen to their highest since

November this week after President Emmanuel Macron announced the

lower house of parliament election for June 30 and July 7

following a massive loss for his camp in a European Parliament

ballot on Sunday.

Balls also said PIMCO has been modestly underweight on

France's government bonds for a while, a position which had

worked "quite well" in recent days.