As long as there isn't deadwood along the branch you want to bend then it should take heavy bending just fine. I've done some pretty major bending on heavier branches than that on pondy and generally you will see the bark crack before the cambium.
Before and after of the semi cascade I worked on last, might help. I cut 2 holes in the tubing and put the strands through the holes, keeps it in place really well to protect the bark. You can see the caramel colored bark where the bark cracked a bit, which is normal it is the cambium you need to worry about, take your time. You can tighten it more over time.
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