* Greek deal brings relief to riskier assets, Bunds fall * Bunds sell-off seen short-lived as deal largely priced in * Spanish aid request doubts temper peripheral debt demand By Emelia Sithole-Matarise LONDON, Nov 27 German government bond prices fell on Tuesday after Greece's international lenders sealed an aid deal to avert near-term bankruptcy but doubts about some of the measures tempered the sell-off in low-risk debt. The accord will cut Greek debt by 40 billion euros to reduce it to 124 percent of gross domestic product by 2020. It eases the way for Athens to receive its next aid tranche in mid-December, removing fears of an imminent default. The relief lifted demand for riskier assets such as equities and kept yields on 10-year Greek bonds near their lowest since the country's debt restructuring in March. The German Bund future fell nearly 60 ticks to a session low of 141.84 in early trade but the losses were quickly halved as doubts about the deal emerged. The contract last stood stood 24 ticks down on the day at 142.19. "Too much (of the deal) has been anticipated, It's not a real game-changer. We expect some upside pressure on Bund yields but not a sustained sell-off," said Michael Leister, a senior rate strategist at Commerzbank. German 10-year yields were last up 2 basis points on the day at 1.44 percent. They have risen over the past two weeks from a 2-1/2 month low of 1.315 percent as investors anticipated that Greece's lenders would eventually compromise on a deal to keep the debt-stricken country afloat. Bund yields are likely to remain in the tight 35 bps range that has prevailed over the past month as questions remain on how some of the Greek measures will be implemented, traders and strategists said. POTENTIAL PITFALLS Investors were keen for details on a Greek bond buyback which has to be carried out before the International Monetary Fund can release its share of the aid tranche in December. There was also concern about Athens' ability to meet debt reduction targets to ensure release of cash installments. "It looks like a skeleton of a compromise on measures that needed to be passed in order to facilitate the disbursement of the next aid tranche for Greece, keep the IMF on board as long as possible, and basically kick the can down the road again," said Gianluca Ziglio, a strategist at UBS. "A lot of details are missing and how the plan will eventually be reassessed, particularly in terms of debt sustainability. The only thing we know about the buyback is what's going to be the maximum price but there's nothing else about modalities." Greek bond prices were marked higher across the strip , pushing yields on the benchmark 10-year bond down 19 bps to 16.3 percent while Portuguese equivalents were down 24 bps at 7.92 percent. Among other peripheral bonds, Spanish 10-year yields were 5.5 bps lower at 5.58 percent while Italian peers were steady on the day. Some traders said uncertainty over when Spain would request external aid to trigger European Central Bank support tempered demand for the debt. "People are looking at Spain, which looks like it's not going to make an aid request until next year, so we are likely to remain range-bound."