US households wealthier; US jobless claims in big drop; Irish economy grows fast; ECB plans falls flat; UST 10yr 2.63%; NZ$1 = US$0.814, TWI = 78.4

Here's my summary of the key news overnight in 90 seconds at 9 am, including news the world is awaiting the outcome of the Scotland vote.

But first, the net worth of Americans hit a record high of US$81.5 tln in the second quarter as the stock market climbed, even though household debt rose at its fastest pace since 2007. Together they are a sign of growing confidence among US consumers.

The number of Americans filing new claims for unemployment benefits fell more than expected last week - down an impressive 36,000 - and suggesting the sharp slowdown in job growth in August was an aberration.

In an echo of old news, today we heard that the Irish economy grew by a stronger-than-expected 1.5% in the April-to-June quarter, and the Irish government has upgraded its growth forecasts for 2014. (That growth rate is twice the rate New Zealand reported for its economy yesterday.)

Worries that China's economy may be slowing further intensified on Thursday as data showed home prices fell for the fourth straight month, adding to expectations that Beijing will need to do more to stimulate activity.

In Europe, there has been a low uptake of the ECB's latest stimulus plan; banks don't want to give up their existing loans for cash, and are worried there may not be enough good new loans to go after. The ECB's cred is at stake here.

In Australia, there are two items of interest from yesterday. Firstly Andrew Thorburn is shaking up the NAB, making sweeping changes to the bank’s management practices, customer engagement tactics and incentive structures. and secondly, a vast new gas discovery in Western Australia is claimed to be their largest find since the 1960s.

Back in New York, the UST 10yr benchmark bond yield had another healthy rise overnight to 2.63%. Equities rose to record levels mainly in response to the fall in jobless benefit claims.

The price of oil has fallen again. The US oil price is now just on US$93/barrel and the Brent benchmark is just under $98/barrel. Gold also fell and quite sharply and is now at US$1,220/oz.

We start today with our currency slightly lower against the US dollar and now just on 81.4 USc, slightly higher against the Aussie at 90.6 AUc, and the TWI is at 78.4. There is no early poll out on the Scottish election yet - except to note that the UK pound is stronger today with markets picking a 'No' vote.

If you want to catch up with all the changes yesterday we have an update here.

The easiest place to stay up with today's event risk is by following our Economic Calendar here »