Rect Transform edit modes

There are two different edit modes available to you within the Rect Transform—Blueprint Mode and Raw Edit Mode—as represented by the following icons, respectively:

Blueprint mode will ignore any local rotation or scaling applied to it and will display the Rect Transform bounding box as a non-rotated, non-scaled box. The following screenshot shows the bounding box of a Panel that has been rotated and scaled with Blueprint Mode turned off and turned on:

Raw Edit Mode will allow you to change the anchor and pivot points of a UI object without the object moving or scaling based on the changes you have made.