HSBC strategist Dhiraj Narula and economist Ryan Wang said in a report that if the Federal Reserve reduces its holdings of US Treasury bonds, the US Treasury bond market may become more dependent on buyers who are more price sensitive.

HSBC strategist Dhiraj Narula and economist Ryan Wang said in a report that if the Federal Reserve reduces its holdings of US Treasury bonds, the US Treasury bond market may become more dependent on buyers who are more price sensitive.