Serial
With async serial which is what you are using, The stop bit is same level as when nothing is being sent. The Start bit is the other level and when held at this level is a special condition called BREAK and is used to get attention of receiver.
I say it this way as you find the levels reversed at some points when testing serial, the driver chips that put SIO signals on long cable are inverters.
Now the SIO is being set for 8N1 this means you have 10 bits for each character. The start bit(always low), 8 data bits, Stop bit(always high).
Depending on how the serial port is programmed each character or chunk of data could have between 7 bits to 12 bits. Data field could be between 5 to 8 bits. The stop bit has an option to be two bits wide. And you have option of adding a parity bit.
Here you are using the common 8N1, 8 data bits, no parity & one stop bit.
On your scope you could have a any amount of bit time showing.
A space could take any amount of with of screen. Almost full screen with is fine. You adjust this with time base of scope.
What you care about is the width of the bits is close to the same when you shift from looking at Tx to Rx Close here is 1% difference or so, If you see a difference there could be a problem.
Second thing is Voltage levels you see on scope.
The Z80 uses 5 volt logic. If you set the vertical controls of scope such that with DC coupled input, 5v and 0v are on screen you should not need to change vertical settings.
Keep in mind that 0.8v us max voltage you can have for a logic 0 at an input.
Having A 0V to 5v change on scope while needing to see if parts are less that 0.8v suggests using 5 grids with a need to know where 0v is. So Adjust vertical position so trace is on a grid when touching probe tip to a ground on Z80 circuit.
Now if you connect scope to SIO_Tx then you should see signal changes during message.
The Tx output wants signal low to be less than 0.8v at detestation, so it tries to output 0.4v or less for a logic 0.
The Tx output wants signal High to be greater than 2.2v at detestation, so it tries to output 2.4v or more for a logic 1.
The voltages can be different for different chips
You will find the exact limits when looking at datasheet
VIH Input High Voltage = ____ The 2.2v above
VIL Input Low Voltage = ____ The 0.8v above
VOH Output High Voltage =_____ the 2.4v above
VOL Output Low Voltage = _____ the 0.4v above
Note that load currents can change the levels and Capacitance can change the speed of change.
So with all the above in mind
You should see little difference between
USB_Tx, USB_Rx, SIO_Tx & SIO_Rx
If you are seeing a difference, then there could be a problem.
Noise is not a problem unless it causes a noise change past input levels.
Wrote above before last post.
One additional bit of test Information
IEO should go low while interrupt in SIO is pending and back high after service.
So If I am reading you latest posts
All Tx & Rx signals are changing as listed above & You see no logic low on the Z80 INT pin.