The Royals were excellent at Loftus Road, where they played out the final 18 minutes with 10 men after former R's defender Kaspars Gorkss was sent off for his challenge on Junior Hoilett.
Danny Williams put them ahead early on and, after Kevin Doyle had equalised against his old club to draw QPR level, two goals in as many minutes early in the second half gave Reading the points.
Bond, whose side missed the chance to close the gap on second-placed Burnley, said: "As you might expect we are hugely disappointed.
"We should certainly have done something about the first two goals and for the third maybe we stood off him a bit.
"We've been very good defensively for most of the season and have now started shipping goals.
"That's coupled with the fact we have lost Charlie Austin and Matt Phillips. Charlie was guaranteeing us goals.
"The problem we've had has been not scoring goals and in trying to change that we have probably only succeeded in being more open.
"Where we were dependable, we are no longer dependable. But it's about how we react now - there are still a lot of games to go."
QPR remain third in the standings, four points behind Burnley after suffering their second successive defeat, while sixth-placed Reading are now six points behind them.
Bond added: "We need to group together now. We didn't get carried away when we were top of the league and doing okay. We've still got a good squad of players."