The recent sell-off in the high yield bond market could mean an increase in bankruptcy filings as shaky companies that depend on that market find it is closed to them, according to Oleg Melentyev, head of high yield strategy at Bank of America. Despite the extremely low yields on traditionally safe investments such as certificates of deposit and money market funds, weak economic data, U.S. budget concerns, rising commodities prices, and, especially, a resurgence of Europe’s sovereign debt problems sent many investors out off riskier asset classes like high yield bonds and into U.S. Treasuries.