Preheat oven to 375F. Soak raisins in water for 10 minutes. Drain well. Combine milk with eggs, vanilla, sugar, almond extract, and nutmeg. Combine bread that has been torn into bite sized pieces with mixture. Saturate well. Melt butter in heavy rectangular baking dish. Add raisins that have been drained to mixture and pour into baking dish. After 45 minutes, check to see if center is firm. Cut into servings. Serve warm or hot with bourbon sauce. To make bourbon sauce, heat butter and sugar in a double boiler until sugar is dissolved, and mixture is very hot Remove from heat. Add egg and whisk very fast, so that egg does not scramble. Add bourbon. Let cook. Pour over servings of the bread pudding.