INSTRUCTIONS

1. The night before, combine raisins and rum in a small bowl. Cover and let soak overnight.
2. Preheat oven to 375°F. Grease a medium baking dish and set aside.
3. Make the caramel. Melt sugar in a saucepan over medium-low heat, swirling occasionally, until it turns amber. Whisk in cream, then butter, until smooth. Remove from heat and season with salt. Set aside.
4. In a large bowl, whisk together milk, cream, eggs, brown sugar, melted butter, 1½ tsp cinnamon, nutmeg, allspice, vanilla, and salt to make the custard.
5. Add bread cubes to the custard and let soak for 30 minutes, pressing down occasionally so every piece absorbs the liquid.
6. Transfer half the bread mixture to the prepared dish. Scatter half the rum raisins over top and drizzle with half the caramel. Add the remaining bread mixture, then top with the rest of the raisins, a sprinkle of brown sugar, and the remaining ½ tsp cinnamon.
7. Bake for 45 minutes, until the top is golden and crisp with a slight wobble in the center.
8. Let cool slightly, then drizzle with the remaining caramel before serving.