Place the raisins in a small bowl of bourbon. Cover and let them soak for 1 to 2 hours. The raisins will soak up most of the bourbon but there may be a little left at the bottom of the bowl.
Make Bread Pudding
Preheat the oven to 350°F. In a large bowl, add the cubed bread. Next, slowly pour the milk of the bread. Press the bread into the milk to allow it to soak up the milk (the bread may not absorb all the milk but most of it).
In a separate small bowl, whisk the eggs, sugar, vanilla, allspice, and cinnamon. Pour over the bread/milk mixture. Add the bourbon-soaked raisins and the pecans. If you have extra bourbon soaking liquid after draining the soaked raisins, you can mix some or all into the egg (if you would like a stronger bourbon taste, if not then discard this extra liquid).
Next, pour the melted butter into the bottom of a 9x13 baking pan. You want to coat the bottom and sides of the pan well with the butter. Then pour your bread mixture into the pan.
Bake at 350°F for 35 to 45 minutes, until the liquid has set. The pudding is done when the edges start getting a bit brown and pull away from the edge of the pan.
For the Bourbon Sauce
Melt the butter in a medium saucepan on low-heat. Add the sugar and egg and whisk together. Stir constantly until the mixture thickens to form a sauce texture, then remove from heat.
Do not allow the mixture to simmer or the sauce will curdle. Whisk in the bourbon. Make sure you whisk the sauce again before serving it.
Notes
** Serve the bread pudding right away with bourbon sauce on the side or pour directly over the pudding (more or less to preference). Leftovers can be kept for up to 5 days in the refrigerator and can be reheated in the microwave.