1. U buy a CDS with MV 0 maturing and spread duration of 3.5 principal of 10,000,000

   U sell another CDS with MV 0 and spread duration of 4.5 principal 25,000,000

   Assume ur spread goes up by 20 bps

   what is going the approximate portfolio MV change?

   Hint calc each of the MV seperately and then add them together

   		-155,000
   		295000
   		-225,000
   		NONE OF THE ABOVE