Mix in bread and raisins in a large bowl. Combine evaporated milk, eggs, sugar, butter, vanilla, cinnamon and nutmeg in a bowl. Pour the egg mix over the bread mixture and mix well. Pour this mix onto the baking dish and allow it to stand for 30 minutes.

Preheat the oven to 350 degree F. Grease 12 x 8 inch baking dish

Bake for 35-45 minutes and garnish with raisins and sliced almonds or drizzle with caramel sauce if desired