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Preheat oven to 350 degrees F. Lightly butter a 2-quart casserole dish.
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Combine bread cubes, walnuts, and raisins in a large bowl. Pour melted butter on top and stir to coat.
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Whisk together milk, cream, honey, eggs, vanilla, cinnamon, and nutmeg in a separate bowl. Pour over bread cubes and stir to combine.
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Peel, core, and dice pears to get 1 cup of diced pears. Reserve any remaining pear pieces to enjoy separately.
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Add the 1 cup of pears to the bread mixture and stir to combine. Transfer bread mixture to the casserole dish.
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Bake until center of bread pudding is set, about 1 hour. Serve warm with vanilla sauce.