How to Make It
Remove the inner pot of a 6-quart Instant Pot® from the cooker, and coat with cooking spray. Place bread in pot.
Combine eggs and next 5 ingredients (through cloves) in a large bowl. Add milk, stirring with a whisk until blended. Pour milk mixture over bread in pot, pressing gently with a spoon to coat all bread pieces.
Tear off a 10 1/2-inch-long piece of aluminum foil; lay foil on top of inner pot, gently smoothing it down the side of the pot. Trim pointed corners even with the rest of the foil, and tightly tuck it in under the rim.
Cut 1 (1 1/4-inch-long) slit in foil about 1 inch from edge with a thin, sharp knife. Cut a second 1 1/4-inch-long slit parallel to and about 1 inch to the inside of the first. Repeat this procedure 3 times, creating 2 concentric slits in foil at intervals of 12, 3, 6, and 9 o'clock. Set inner pot inside cooker.
Close and lock the lid of the Instant Pot®. Turn the steam release handle to "Venting" position. Press [Slow Cook], and use [Adjust] to select "More" mode. Press [-] or [+] to choose 1 hour 30 minutes cook time. (Cook additional time, if necessary, until a knife inserted in center comes out clean.) Serve warm sprinkled with powdered sugar.