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3-Month Treasuries Will Now Get You $4 on $10,000 Per Year

I keep watch of the Treasury yields, and have been trying to understand exactly what is going on over the last several days. Would I be correct in assuming the dollar is going to follow the Treasury yield. In other words will we see a weaker dollar, and is that why there are renewed calls for investing in the oil and gas sector at a time when the price for a barrel of oil has reached a 7 month low?