Spray a 9 x 13 baking pan with nonstick cooking spray. Place the bread squares into the prepared baking dish, spreading into an even layer. Set aside.
In a large mixing bowl, whisk together the eggs, sugars, milk, vanilla, nutmeg and cinnamon until well combined.
Pour the mixture over the bread in the prepared baking pan. Make sure all the bread is well coated.
Sprinkle the raisings all over the top of the bread pudding.
Allow to sit for 15 minutes to allow the bread to soak up the mixture.
Preheat the oven to 350 degrees F. Place the bread pudding in the oven and bake for 45 to 50 minutes or until the top is set.
Remove from the oven and allow to cool slightly before serving.