Default Time field value is not saved.

Steps:

1. Create a Content Type with the Time field.
2. Create a content item using this Content Type.
3. For the Time field select the default value (12:00).
4. Publish or Save.

Expected: Value is stored.
Actual: "This field is empty".

Remarks: Please see recording http://g.recordit.co/qMceBnddCi.gif. If the default value is modified before saving/publishing it is stored.