Based on prior knowledge, the feature "default" refers to whether the client has any credit in default or not. 

To analyze the relationship between the feature "default" and the target variable "Does this client subscribe to a term deposit?", we can examine how the values of "default" vary based on the target classes "yes" and "no". 

Here is the analysis:

- For the target class "no" (client does not subscribe to a term deposit):
    - The possible values of "default" could be:
        - ['no'], indicating that the client has no credit in default.
        - ['yes'], indicating that the client has credit in default.
    - The list of possible values for "default" in this class would be: ['no', 'yes'].
    
- For the target class "yes" (client subscribes to a term deposit):
    - The possible values of "default" could be:
        - ['no'], indicating that the client has no credit in default.
        - ['yes'], indicating that the client has credit in default.
    - The list of possible values for "default" in this class would be: ['no', 'yes'].

Based on this analysis, the dictionary can be created as follows:

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