Input/output error after first read from pseudo terminal - file-io

Question

I have created pseudo terminal master/slave and read on master side using select with the following code:
fd_set read_fd;
struct timeval timeout;
while (is_running) {
FD_ZERO(&read_fd);
FD_SET(fd, &read_fd);
timeout.tv_sec = 0;
timeout.tv_usec = 500000;
int ret = select(fd + 1, &read_fd, NULL, NULL, &timeout);
std::cout << "select return:" << ret << std::endl;
if (ret == -1) {
std::cerr << "select error:" << strerror(errno) << " code:" << errno << std::endl;
is_running = false;
}
if (FD_ISSET(fd, &read_fd)) {
if (read(fd, buff, size) == -1) {
if (EIO == errno) {
// After first read - Input/output error code:5
std::this_thread::sleep_for(std::chrono::milliseconds(500));
}
std::cerr << "read error:" << strerror(errno) << " code:" << errno << std::endl;
} else {
std::cout << "read:" << buff << std::endl;
}
}
}
std::cout << "read exit" << std::endl;
In terminal I send data from slave to master using
echo "22222222222222" > /dev/pts/23
In case if data send on master side read operation work fine - I see that select returns 1 and data got read but on next iterations in while loop select also returns 1 but read function constantly fails with error EIO and it is not clear for me.
select return:1
read:22222222222222 <------------------------ data read: OK
select return:1
alloc:8 write:7 buff:hello14
read error:Input/output error code:5 <------------------- EIO
select return:1
read error:Input/output error code:5 <------------------- EIO
Could you please help me to understood on why after first read (echo "22222222222222" > /dev/pts/23 on slave) select returns 1 but all read operations fails with EIO error.