The World is smoldering:

How Mike Johnson’s Misfires Ignited Republican Rebellion
https://www.wsj.com/politics/policy/how-mike-johnsons-misfires-ignited-republican-rebellion-d54382ed?mod=hp_lead_pos2

On Tuesday morning, House Speaker Mike Johnson (R., La.) stood in a room full of reporters and said he had no worries about winning re-election to his post early next year when the new Congress kicks off. 
Days later, his speakership is on the ropes, thanks to a severe miscalculation in crafting a sprawling short-term funding bill with Democrats. Republican colleagues rebelled against the measure, and President-elect Donald Trump and his billionaire ally Elon Musk sharply criticized it. 

How a Looming U.S. Government Shutdown Would Affect You
https://www.wsj.com/politics/policy/federal-government-shutdown-2024-explained-66c7ce70?mod=politics_lead_story
Why would the government shut down?
Congressional leaders on Tuesday reached a bipartisan deal to fund the government through mid-March, but the spending package fell apart after opposition from President-elect Donald Trump and Elon Musk, his billionaire ally. A new slimmed-down spending plan from Republicans that was endorsed by Trump failed a House vote Thursday evening, leaving the path forward in limbo. 
When would a government shutdown take place?
To keep the government funded, a spending bill must pass both the House and Senate and President Biden must sign it into law before Friday’s midnight deadline. If that doesn’t happen, the partial government shutdown would begin at 12:01 a.m. Saturday.

Israel vs. Turkey: The Intensifying Middle-East Power Struggle
https://www.wsj.com/world/middle-east/syria-us-ally-tension-israel-turkey-a8706228?mod=hp_lead_pos9
Turkey and Israel are the main strategic beneficiaries of the collapse of the Syrian regime, an event that has capped the dramatic decline of Iranian influence in the Middle East.
But now these two American allies, whose already poisoned relations have been strained to the breaking point since the war in Gaza began last year, are on a collision course of their own, in Syria and beyond.
Managing this rivalry is likely to become a priority for the incoming Trump administration, adding to pressure on the network of America’s alliances in Europe and the Middle East. 
“Turkish officials want the new Syria to be a success so that Turkey can own it, and they feel that the Israelis might just ruin everything,” said Gönül Tol, director of the Turkey program at the Middle East Institute.

 The Fed Cut Rates. Mortgage Costs Went Up.
https://www.wsj.com/economy/housing/the-fed-cut-rates-mortgage-costs-went-up-25d3b756?mod=hp_lead_pos6
Hopes were high that the Federal Reserve could make homes more affordable by cutting interest rates. So far, mortgage rates are rising instead.
Average 30-year mortgages have climbed to around 6.7% from roughly 6.1% since the Fed started lowering rates in September, according to Freddie Mac. And they are only poised to rise further. That is because mortgage rates move with the yield on the 10-year Treasury, which has surged this week.
Here are six charts showing the forces aligned against potential home buyers at the moment.
Rates fall. Rate expectations rise.
Mortgage rates are based on long-term Treasury yields. Those are mostly driven by expectations for where short-term interest rates will be in the future, rather than where they are now. And those expected rates have been going up, even as actual rates have been dropping.

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