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1
Preheat the oven to 400.
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2
Butter a 2-quart baking dish.
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3
Toast the panettone on the oven racks for 8 to 10 minutes, or until golden; cut into 1 1/2-inch cubes and transfer to the prepared baking dish.
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4
In a saucepan, cook the butter over moderately low heat until nutty and the milk solids are brown, 4 to 5 minutes.
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5
Toss the butter with the panettone.
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6
In a medium bowl, using an electric mixer, beat the eggs and sugar at medium speed until pale and thick, 2 minutes.
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7
Beat in the vanilla, cinnamon, nutmeg and salt, then beat in the heavy cream and evaporated milk.
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8
Pour the custard over the panettone; let stand for 1 hour, gently tossing now and then, until the custard is absorbed.
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9
Preheat the oven to 400.
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10
Bake the bread pudding for 25 to 30 minutes, until the top is golden and the custard is set.
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11
Let cool for 30 minutes before cutting into squares.
