The China Securities Regulatory Commission has received Mizuho's application to establish a securities division, with a focus on the bond business. UBS made several appointments in the US. J Mills-Pierre III joined as a financial advisor in Manhattan, reporting to Neal Cooper and Demie Kommatas. Kathleen Ferraro was appointed market director for the Greenwich and Stamford, Connecticut offices. Christopher Brolly joined as financial advisor in Boston, reporting to Robert Covino. Jack Heiss was appointed market director in Tampa, Florida. Wealth Management Group’s latest quantitative models flag increased liquidity flows into consumer discretionary stocks. Recent retail sales data, up 0.7% month-on-month, supports a projection of sector EPS growth exceeding 8% by year-end.