Instant Pot Baked Beans With Bacon

Name: Instant Pot Baked Beans With Bacon
Ingredients: 1 pound (2 heaping cups) dried beans, such as white, red, black, kidney, or pinto beans; 2 quarts water; 1/4 pound bacon, sliced into lardons (short pieces, cut crosswise); 1 tablespoon olive oil; 1 medium to large onion, finely diced (about 1 1/2 cups); 6 garlic cloves, minced; 6 black garlic cloves, smashed (or 1 tablespoon tomato paste plus 2 more garlic cloves, minced); 1/2 teaspoon garlic powder; 1/2 teaspoon onion powder; 1 teaspoon kosher salt, plus more to taste; 1 1/2 teaspoons black peppercorns, coarsely ground with a mortar and pestle (or freshly ground from a pepper mill), plus more to taste; 1/2 teaspoon dried thyme; 1/3 cup ketchup; 1/4 cup yellow, Dijon, or grainy mustard; 1 1/2 cups lager-style beer; 1 cup chicken or vegetable broth; 2 tablespoons balsamic vinegar, divided; 3 tablespoons (packed) brown sugar, maple syrup, or honey; 1/2 cup chopped fresh cilantro or parsley