dennis hamilton at harmon international was arrested friday and accused of insider trading.prosecutores say hamilton bought 17,000 shares in harmon the day before it released an upbeat earnings report. >>> chesapeake energy shares plummeting on reports that it hired restructuring lawyers. check piece denies bankruptcy rumors. let's bring in darren hughes, senior portfolio manager at invesco. darren, great to have you with us. >> hi, melissa, thank you. >> what is the high yield -- what are the high yield bonds telling you? >> certainly today oil continues to drive spreads and drive the market. today energy, no exception. across the board, off a point or two points plus. in the case of chesapeake this morning, off a little bit more than that, as the rumors circulated they hired counsel. >> walk us through your expectations of defaults, within high yield energy. today, compared to say three months ago. >> certainly we believe they're going higher. in the sense of say of maybe three to four percent over the next 12 months. >> as i look at the high yield -- there's quite of bit