Daily Agenda: RBS to Move to London If Scotland Votes for Independence

Uncertainty remains the order of the day for investors as they attempt to sift meaningful data from noise. Unfortunately, the geopolitical and global policy setup, ranging from U.S. military strategy in Syria to Scotland’s independence vote, is causing not just noise but a proverbial cacophony. In the spotlight today will be European Central Bank President Mario Draghi’s dinner keynote speech at the Eurofi Banking Conference in Milan, which will prompt investors to try to parse any clues to the bank’s policy course.

RBS to withdraw from Scotland in case of independence.The Royal Bank of Scotland released a statement today confirming that the bank will relocate its headquarters to London from Edinburgh in the event thatScotland’s September 18 independence referendumresults in secession from the U.K. Edinburgh is the second-largest center for fund management in the U.K. and the fourth-largest in Europe in terms of assets.

德国消费者价格不变。最终八月消费者价格指数数据今天发布的德国联邦统计办公室在初始闪光读数中持续了0.8％，不变。虽然欧洲联盟最大经济体中的一些活动措施显示了近几个月的改善迹象，但对整个地区的担忧继续称为。随着欧洲央行政策仍然挂钩就业以及通货膨胀目标，德国收银机的货物成本仍然是投资者的中心重点。

Inflation slows down in中国. CPI data released by the National Bureau of Statistics in Beijing today indicated an easing of price pressures in August, with the headline index registering a sequential contraction to 2 percent year-over-year, compared to 2.3 percent in July. Food prices, a politically sensitive subject, saw moderate increases of 3 percent year-over-year versus 3.6 percent in July. These readings were below consensus forecasts and stoke fresh concerns about slack demand in the nation, as well as speculation on possible further stimulus measures by the People’s Bank of China (PBOC).

Unemployment Down Under is down.Fresh data released by the Australian Bureau of Statistics indicated a record surge in total new jobs created in August, driving the country's headline unemployment rate from a record 6.4 percent to 6.1 percent. Many of the 121,000 new positions were for part-time workers, added under a new calculation method by the bureau, giving way to skepticism among investors in the nation.

U.S.失业索赔预计会显示出改善。Weekly initial jobless claims data, scheduled for release at 8:30 this morning U.S. Eastern time, are expected to register marginal improvement. Consensus forecasts call for 300,000 new job seekers, compared to 302,000 in the previous period. This would continue a trend over the past several weeks of relatively flat readings at low levels. Despite improvement,recent remarks by some members of the Federal Market Open Committeehave made it clear that the structural nature of employment is as important to Federal Reserve policy as is headline job data, as labor force participation remains well below long-term historical averages.

Abe and Kuroda confer on monetary policy.在今天的日本总理Shinzo Abe的会晤中，日本州银行总督Haruhiko Kurodareiterated the central bank’s commitment to pursue aggressive quantitative easing measures. With a recent loss of momentum in primary economic indicators, the prospect of a fresh increase in sales tax levels has led to speculation that the Bank of Japan will increase its intervention levels in order to soften the blow.