Lightly butter a 1.5 quart (1.4 L) baking dish, and set aside. Then, place a small metal rack or trivet in bottom of slow cooker. Add 1/2 - 3/4 cup water.
In a large bowl mix together sweetened condensed milk, cream, eggs, vanilla, nutmeg and cinnamon until combined. Add bread cubes and raisins, and stir. Let it sit for 5-10 minutes.
Spoon into baking dish and cover with tin foil, then place it on rack in slow cooker.
Then, put lid on slow cooker and cook on high for 3 hours. Remove and let stand 10 - 15 minutes before serving. Serve with warmed Eggnog Sauce.
Notes
To make eggnog sauce: In a bowl, mix together sugar, cornstarch, eggnog, vanilla and nutmeg. Pour into sauce pan and cook over medium-low heat on stove. Stir until slightly thickened and remove from heat. Drizzle over bread pudding and serve warm.