Combine the yeast and water in the bowl of a stand mixer outfitted with the dough hook. Add the flour, sugar, milk powder, salt, baking powder, baking soda, and fat and mix on the lowest speed possible for 8 to 10 minutes. The dough should gather together into a neat, not too tacky ball on the hook. When it does, lightly oil a medium mixing bowl, put the dough in it and cover the bowl with a dry kitchen towel. Put it in a turned off oven with a pilot light or other warmish place and let rise until the dough doubles in bulk, about 1 hour 15 min.