Prepare an 8 inch by 8 inch baking dish with nonstick cooking spray.
Cut bread into 1 inch cubes. Place the cubes in the prepared baking dish.
Melt the butter and pour it over the bread cubes.
Sprinkle the raisins over the top.
Next, make the custard mixture. In a medium bowl, whisk together the milk, eggs, sugar, vanilla, and cinnamon.
Pour the custard mixture over the bread.
Press the bread down gently with a fork to help the bread absorb the liquid.
Bake for 45 to 50 minutes, or until golden brown and a knife inserted in the center returns clean.
To Make the Vanilla Sauce
To make the easy vanilla sauce, combine heavy cream and milk in a medium saucepan. Heat over medium heat until it starts to simmer around the edges but do not bring to a boil.
In a separate bowl, whisk together the sugar, egg yolks, and vanilla extract. Whisk in the cornstarch.
Slowly, pour ¼ cup of the warm vanilla sauce mixture into the egg yolk mixture, whisking continuously.
Gradually pour the tempered egg yolk mixture back into the saucepan, still whisking constantly.
Cook the sweet vanilla sauce over medium heat, stirring constantly, until the sauce thickens enough to coat the back of a spoon. Do not let it boil.
Run the vanilla cream sauce through a sieve to remove any lumps.
Let the sauce cool slightly before transferring to a storage container or jar. Place plastic wrap directly on the surface of the sauce to prevent skin from forming. Refrigerate until chilled and ready to serve with the warm bread pudding.
Notes
I like using a thick bread, like brioche. French bread also works well. Actually, bread pudding is a perfect way to use up just about any old leftover bread, or stale bread to prevent otherwise wasting it. The vanilla sauce in this recipe can also be used as a topping for Crepes or on delicious pancakes with some fresh fruit.