Preheat oven to 350 degrees F and grease a 9×13 baking dish.
Add the raisins, water, butter, and 1 teaspoon cinnamon to a small saucepan over medium-high heat. Bring mixture to a boil and continue cooking until the raisins plump up and about double in size, then remove from heat.
In a large bowl, whisk together the eggs, milk, heavy cream, vanilla, sugar, and 1 tablespoon cinnamon. Add the raisin mixture including the water.
Stir the cubed bread into the egg mixture until fully combined. Let the liquid absorb for 10 minutes.
After 10 minutes, transfer the mixture to the prepared baking dish and cover with foil.
Bake for 50 minutes then remove foil and bake for an additional 10-15 minutes.
For glaze: whisk together all ingredients and pour over the pudding before serving.