1 12- to 16-ounce loaf day-old unsliced white bread, cut in half lengthwise and then into thin slices
For custard:

5 large eggs
2 1/4 cups 2% or whole milk
2 tablespoons granulated sugar
1 teaspoon vanilla extract
1 teaspoon ground cinnamon
1/2 teaspoon ground nutmeg
1/4 teaspoon salt

For cinnamon cream cheese filling:
8 ounces cream cheese, softened
2 tablespoons unsalted butter, softened
1 large egg
1 tablespoon ground cinnamon, plus more for sprinkling
1/4 cup granulated sugar
Confectioners’ sugar, for sprinkling