1Preheat oven to 350. Melt 4 tbsp. butter in a small saucepan until butter smells nutty, 3-4 minutes. Cool slightly.
In a bowl, combine sugar, cinnamon and nutmeg.
2On a lightly floured surface, roll out bread dough into a 9x13 rectangle. Brush with the melted butter, then cover evenly with sugar mixture and raisins.
Starting at the short end, roll dough into a log. Cut into 2-in. thick pieces.
Arrange pieces, cut side up, in a greased 8-in. square pan. Bake 45 to 50 minutes. Cool 5 minutes.
3Meanwhile, beat together cream cheese, remaining butter, powdered sugar and vanilla until creamy. Use either as a dipping sauce or spread over bread before serving.