Toast bread if not using day-old. Heat oven to 350°F. If your bread is fresh, spread the cubed bread out on a baking sheet and toast 10 minutes.

Mix all the capirotada ingredients together. Combine heavy cream, sweetened condensed milk, Jocoque, raisins, cinnamon, cardamom, and salt in a large bowl. Add bread and toss to coat.

Transfer to a baking dish and refrigerate over night. Grease a 9 x 13-inch baking dish and pour bread mixture into the dish. Let sit 1 hour at room temperature. At this point you can also cover with plastic wrap and refrigerate overnight.

Bake the capirotada. If baking right away, grease a piece of foil and cover (greased-side down) the baking dish. Bake 20 minutes at 350°F. Uncover and bake another 30 minutes or until browned on top. If you made the Capirotada the night before, remove the plastic wrap and follow the same instructions above.

Let cool 15 minutes. Remove from oven and let cool 15 minutes before drizzling with glaze.

Make the glaze: Combine powdered sugar, butter, vanilla, and salt in a medium bowl. Beat together with a whisk until smooth. Add the milk, a tablespoon at a time until the glaze is pourable, but not too thin. Drizzle glaze over the bread pudding and sprinkle with powdered sugar, if desired.