To prepare the bread cut the loaf into slices and then cut into bite-size pieces and let it dry overnight on a cookie sheet or pan.
Select an ovenproof dish that fits inside your Instant Pot. Spray the bottom and sides of the dish with nonstick baking spray. You can use parchment paper in the bottom too for easy release.
In a large bowl whisk the eggs and then add the milk, vanilla, regular sugar, brown sugar, and cinnamon.
Add the dried bread pieces and push them down gently so that all the bread pieces are covered with the liquid. Let them soak for about 10 minutes. Stirring occasionally to make sure every piece of bread gets into the milk mixture.
Dump the mixture into your prepared dish. Cover the dish really well with foil.
Place your trivet that came with the Instant Pot in the bottom of the pot and pour 1 cup of water into the pot.
Place your baking dish on top of the trivet.
Place the lid on the instant pot and make sure the vent is turned to “seal”. Set manual and pressure to high for 40 minutes.
When the timer goes off cover the vent with a towel and quick release the steam.
Remove the dish carefully as it will be hot and remove the foil from the dish draining off any excess moisture on the foil.
Let the dish sit for 10 minutes before serving.