Rates Set to Rocket with Falling Dollar?

See our comparison chart between Cash Dollar Index (DXY) and the Proshares Ultrashort 20+ Year T-bond, ETF (NYSE: TBT), in which I am trying to show that right now the vulnerable juxtaposition of the dollar is creating nervousness among bond traders and investors. Once the bond vigilantes get their meat hooks into the bond market, the Fed will have one heck of a challenge on its hands. The chart shows that the prior April-June climb in the TBT (longer-term rates) did nothing to break the decline of the DXY. Now with the DXY much lower and on the verge of a plunge, Mr. (Bond) Market might be about to rocket rates again, which figures to be a much more dramatic upmove than April-June.