Pimco's Stracke Sees Asset-Based Finance as Key Area of Growth
Pacific Investment Management Co. is building out its investments in asset-based finance to meet client demands to diversify away from more traditional areas of private credit.
'That's an area that's really picking up speed in terms of the availability of finance outside of banks,' Christian Stracke, president and global head of credit research at Pimco, said in an interview on Bloomberg TV.
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Oakland yoga studio part of rise in inclusive, nonbinary-owned businesses
In the heart of Oakland, there is a yoga studio where flexibility means more than just touching your toes — It's a way of life. Marlo Miller — who uses she/they pronouns — is the owner of Banana Yoga, a place where people like her can do something rare these days: breathe. "I think it happened organically. I, myself, am nonbinary, and they say your vibe attracts your tribe, and I just wanted to have those folks close to me," said Miller. Most of the instructors and clientele at Banana Yoga identify as gender expansive — an umbrella term for those who don't fit neatly into the male or female box. One of them is Deanalis Resto, a student whose pronouns are they, he, and she. "I know that I can be me here," Resto said. And they're not alone. A 2022 Pew Research study found that 5.1% of U.S. adults under 30 say their gender differs from their sex assigned at birth. From gender-neutral fashion to nonbinary salons and yoga studios, what was once overlooked is fast becoming a market with momentum. Rex Wilde, a transgender nonbinary consultant, said business is booming. "We're only going to be seeing more small businesses that open up specifically catering to this market," Wilde said, noting that since 2021, the number of certified transgender and nonbinary-owned businesses has more than doubled. For Miller, the value of places like Banana Yoga goes far beyond the bottom line. "If we focus on members of our community who need the most help, everyone else will benefit," she said.
