```json
{
	"no": ["no"],
	"yes": ["yes"]
}
```

Based on prior knowledge, we can analyze the relationship between the feature "default" and the target variable "subscribing to a term deposit". 

In this case, the feature "default" refers to whether the client has credit in default or not. The target variable "subscribing to a term deposit" indicates whether the client subscribed to a term deposit or not.

From the given information, the feature "default" is a categorical variable with categories "no" and "yes". 

Analyzing the relationship between the feature and the target, we can observe that the "default" feature has two possible values, namely "no" and "yes". 

When the target variable is "no", indicating that the client did not subscribe to a term deposit, the possible value for the "default" feature is only "no". 

Similarly, when the target variable is "yes", indicating that the client subscribed to a term deposit, the possible value for the "default" feature is only "yes". 

Therefore, the dictionary representation of the relationship between the feature "default" and the target variable "subscribing to a term deposit" is as follows:

```json
{
	"no": ["no"],
	"yes": ["yes"]
}
```

Please note that this dictionary representation includes the possible values of the "default" feature for each target class.