Diplomatic Pudding

From verybestbaking.com: Transform day-old bread into this classic Cuban dessert. The combination of evaporated and condensed milks makes this fruit- and nut-studded bread pudding extra rich and delicious, whether it’s served warm or chilled. The use of canned fruit in this recipe reflects the popularity of imported canned goods in Cuba during the 1950s.

• Ready In: 1 hr 15 mins
• Serves: 12

Ingredients

• 1  cup granulated sugar
• 1 (8 1/2ounce) can  fruit cocktail, drained
• 1  lb  loaf  day-old white bread, crust removed
• 1 (12 ounce) can evaporated milk
• 1 (14 ounce) can sweetened condensed milk
• 3  large  egg yolks, beaten
• 1⁄2 cup raisins
• 1⁄2 cup  sliced almonds (optional)
• 1  tablespoon sweet vermouth
• 1  tablespoon all-purpose flour
• 1  teaspoon vanilla extract
• 1⁄4 teaspoon ground cinnamon
• 1⁄4 teaspoon ground nutmeg
• 1⁄8 teaspoon salt
•  fresh  whipped cream, maraschino cherries and (optional) or   additional  sliced almonds (optional)

Directions

1. PREHEAT oven to 350°F.
2. HEAT sugar in small, heavy-duty saucepan over medium-low heat, stirring constantly, for 3 to 4 minutes or until dissolved and light brown in color. Quickly pour onto bottom of 9-inch cake pan. Holding pan with potholders and working quickly, swirl melted sugar around bottom and sides to coat. Set aside to cool. Coat bottom with fruit cocktail.
3. CRUMBLE bread into a large mixing bowl. Add the evaporated and sweetened condensed milks. Mash with a potato masher or mix in blender until smooth. Add the egg yolks, raisins, almonds, vermouth, flour, vanilla extract, cinnamon, nutmeg and salt; stir until well blended. Pour the mixture into prepared pan. Place pan in large roasting pan; fill roasting pan with warm water to about halfway up the side of the pan.
4. BAKE for 1 hour or until a wooden pick inserted in center of pudding comes out clean. Let cool on wire rack for 15 minutes. Invert onto a serving platter. Serve warm or chilled. Garnish each slice with dollop of whipped cream, maraschino cherry and sliced almonds, if desired.