by Calculated Risk on 9/17/2014 08:55:00 PM

On Scotland, from the NY Times: Scottish Independence Vote Balances Politics and Economics

On Thursday, Scotland will vote on a referendum that could establish a Scottish state separate from Britain for the first time since 1707. If it passes, the Scottish and British economic and political landscape will change drastically.

Registered voters in Scotland can vote on the referendum at their neighborhood polling station from 7 a.m. to 10 p.m. Votes will be counted immediately after the polls close; results are expected to be announced early Friday morning.

Thursday:
• At 8:30 AM ET, Housing Starts for August. Total housing starts were at 1.093 million (SAAR) in July. Single family starts were at 656 thousand SAAR in July. The consensus is for total housing starts to decrease to 1.040 million (SAAR) in August.

• Also at 8:30 AM, initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 305 thousand from 315 thousand.

• At 8:45 AM, Speech by Fed Chair Janet Yellen, The Importance of Asset Building for Low and Middle Income Households, At the Corporation for Enterprise Development's 2014 Assets Learning Conference, Washington, D.C. (via prerecorded video)

• At 10:00 AM, 2014 Current Employment Statistics (CES) Preliminary Benchmark Revision. From the BLS:

"Each year, the Current Employment Statistics (CES) survey estimates are benchmarked to comprehensive counts of employment from the Quarterly Census of Employment and Wages (QCEW) for the month of March. These counts are derived from state unemployment insurance (UI) tax records that nearly all employers are required to file. ... The final benchmark revision will be issued with the publication of the January 2015 Employment Situation news release in February."

• Also at 10:00 AM, the Philly Fed manufacturing survey for September. The consensus is for a reading of 22.0, down from 28.0 last month (above zero indicates expansion).

• At 12:00 PM, the Q2 Flow of Funds Accounts of the United States from the Federal Reserve.