1. Grease an 8x8x2 inch casserole or baking pan. Add bread cubes and scatter raisins over top.
2. In a large bowl whisk eggs, slowly whisk in milk then sugar, cinnamon, vanilla and nutmeg. Pour over bread cubes. Press bread cubes down to soak up the egg mixture.
Cover and refrigerate 2-3 hours or overnight.
3. Remove pan from refrigerator and allow to come up to room temperature. Press bread cubes down again. Preheat oven to 350 degrees F. To make a bain marie put the pan inside a larger roasting pan and fill with enough hot water (not boiling) to reach halfway up the pan. Bake for 45-50 minutes or until center is set. Cool and chill completely.