Bonds rally as Chávez health fears grow Venezuelan bonds rallied to a record level on speculation that Hugo Chávez, the country's president, is about to lose his battle against cancer, tilting the politics of Latin America's biggest oil exporter towards the centre once more. The price of Venezuela's $3bn benchmark government bond maturing in 2022 rose to a record on Wednesday, sending the yield - which moves inversely to prices - tumbling to a record low of about 9.6 per cent. This was the lowest since the security was issued in August 2010. Rumours are rife in Venezuela that Mr Chávez will not be able to attend the inauguration of his fourth term as president on January 10. Mr Chávez, who remains in Cuba after complications resulting from his fourth cancer surgery in 18 months on December 11, is in a "complex and delicate situation," according to vice-president Nicolás Maduro. If the 58-year-old leader is unable to attend his inauguration ceremony next week and does not step down, the national assembly president must determine whether his absence is temporary or permanent, according to the constitution. If the absence is considered to be permanent, elections must be held within 30 days. Nevertheless, government officials argue that the constitution also allows for the president to take his oath before the Supreme Court at an undesignated time, and that the location is also flexible. Mr Chávez, who defeated opposition candidate Henrique Capriles by more than 10 percentage points in presidential elections on October 7 after claiming to be "totally free" of cancer, was last seen in public on his arrival in Cuba on December 10. Venezuelans are now concerned that unrest could break out if there is a constitutional crisis. An early indicator could come as soon as January 5, when the national assembly is due to elect a new president. Its current leader, Diosdado Cabello, is considered to be the main political rival of Mr Maduro. If he is re-elected and Mr Chávez dies before his inauguration, then the constitution states that Mr Cabello and not Mr Maduro would become temporary head of state until snap elections are held. If Mr Cabello is not elected, this could indicate that he is seen as a threat by Mr Chávez's United Socialist party and may plan to challenge Mr Maduro's leadership. After conflicting reports about Mr Chavez's health triggered a swirl of rumours in Caracas in recent weeks, Mr Maduro urged Venezuelans to ignore "lies" about the socialist leader's condition, including speculation that he may be in a coma. "He squeezed my left hand with an immense strength while we spoke," Mr Maduro said in an interview from Havana broadcast on Tuesday night by the Caracas-based television network Telesur. He's totally conscious of the complexity of his post-operative state and he expressly asked us . . . to keep the nation informed always, always with the truth, as hard as it may be in certain circumstances," added Mr Maduro, whom Mr Chávez urged Venezuelans to support as his successor before departing for Havana last month. Mr Maduro did not address what might happen if Mr Chávez was unable to attend his inauguration, but expressed hopes for his improvement, saying that he "has faced an illness with courage and dignity and he's there fighting, fighting." Mr Maduro, who is due to return to Caracas on Wednesday to take charge of government affairs, provided few details of the president's health since suffering renewed complications from a respiratory infection which was announced just before New Year's eve. In recognition of the news, the interior ministry cancelled a planned state-sponsored New Year's eve celebration in downtown Caracas.