[git] Why does git status show branch is up-to-date when changes exist upstream?

"origin/master" refers to the reference poiting to the HEAD commit of branch "origin/master". A reference is a human-friendly alias name to a Git object, typically a commit object. "origin/master" reference only gets updated when you git push to your remote (http://git-scm.com/book/en/v2/Git-Internals-Git-References#Remotes).

From within the root of your project, run:

cat .git/refs/remotes/origin/master

Compare the displayed commit ID with:

cat .git/refs/heads/master

They should be the same, and that's why Git says master is up-to-date with origin/master.

When you run

git fetch origin master

That retrieves new Git objects locally under .git/objects folder. And Git updates .git/FETCH_HEAD so that now, it points to the latest commit of the fetched branch.

So to see the differences between your current local branch, and the branch fetched from upstream, you can run

git diff HEAD FETCH_HEAD