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U sell a CDS at market value 0 and get a coupon of 2% per annum. Assuming the spread jump to 3% and the principal

U sell a CDS at market value 0 and get a coupon of 2% per annum. Assuming the spread jump to 3% and the principal of CDS is 10,000,000 what is going to be the new MV from your perspective ? Spread duration is 4.5.

-450,000

+450,000

-500,000

+500,000

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