In the reading on CDS, the CFAI book says that an increase in credit spread will increase the price of a CDS. Wouldn’t it only increase the value of the CDS assuming that the investor is short (bought the CDS)? I thought the price was 100 - Upfront premium % and that future changes in spread would either decrease or increase the premium. If the spread goes up, the premium goes up as well and the price should decrease. Am I thinking about this the right way?