As Wall Street completes its 2026 outlook, a rare consensus is forming across the world's largest investment banks.

Goldman Sachs calls it a structural shift in wealth concentration. Morgan Stanley refers to it as the new two-speed global cycle. UBS highlights the most powerful capital expenditure boom in more than two decades.

Different languages, but the message is unmistakably the same: December heading into 2026 will be dominated by the K-shaped economy.

This is a world where the upper arm surges ahead accumulating unprecedented wealth whilst the lower arm faces shrinking purchasing power, real world stagnation and deepening financial fragility.

This widening gap is reshaping capital flows in profound ways.

Among all asset classes, commodities stand out as the clearest beneficiaries of this new order.