FRACK!

I've been working on the first rod I've made in probably 5 years.
Started finishing the wraps last night and when I checked on them
this morning they had a white cloudy "precipitate" in them.

I'm sure it's my fault, I used the rod finish that I used for my
last rod (so it's at least 5 years old) and brand new brushes.
I don't know if there was something on the brushes or if the
rod finish had become contaminated. Isn't it poly urethane?
Can polyurethane go bad?

Anyway, now the top section of my rod has beautiful wraps
with a milky film in the finish.

Is there anything I can do except for cut off the wraps and
start that section over?
Thanks,
- Ken