Pan de Jamón (Venezuelan Christmas Ham Bread)

In a small bowl, combine yeast, half of the sugar (8 teaspoons; 34 g), and water; stir to dissolve. Let rest until foamy, about 5 minutes.

In a second small bowl, whisk 1/2 cup (120 g) milk and egg until combined. In the bowl of a stand mixer fitted with the dough hook, add the flour. With the mixer running on low speed, pour in the milk mixture and yeast mixture. Mix until a shaggy dough forms and no dry flour remains, about 2 minutes, scraping down the bowl as needed. Cover the mixer bowl and let the dough rest for 10 minutes.

Set the mixer to medium speed, then add the remaining sugar and salt to dough and mix until incorporated, about 1 minute. With the mixer still on medium, add the butter 1 tablespoon at a time, letting each piece fully incorporate before adding the next, about 2 minutes total. Continue kneading until the dough is smooth and elastic, about 8 minutes. The dough will cling to the bottom of the bowl but should release cleanly from a spatula or your fingers.

Transfer the dough to a lightly floured work surface and knead it to form a smooth ball for about 30 seconds. Place dough seam-side down in a lightly greased large bowl, cover tightly with plastic wrap, and refrigerate until the dough rises to a fuller dome, at least 2 hours and up to 24 hours.

Punch down dough to deflate. Transfer onto a lightly floured surface, keeping seam side down, and let rest, covered, for 20 minutes.

Pat the dough into a rough rectangle, then roll it into a 14-by-10-inch rectangle with a short (10-inch) side facing you. At the far short edge, lightly score a line 2 inches in from the edge across the width; this is your stop line. Along that far edge, lightly score 10 equal sections (each about 1 inch thick). Using a sharp knife or pizza wheel, cut from each mark straight toward the stop line, stopping at the line, to create a 2-inch-deep fringe.

Shingle the ham to cover all the dough except the 2-inch fringe, overlapping the slices slightly in neat rows. Lay the bacon in long strips on top. Sprinkle the raisins and olives evenly over the ham.

Starting from the edge closest to you, roll the dough tightly over the filling, making sure the first turn fully encloses and tucks the filling in. Continue rolling away from you into a tight cylinder, tightening the roll as you go. When you reach the fringe, lift each strip and pull it over the loaf, tucking the ends underneath so they adhere to the bottom of the roll; pinch lightly to secure. Transfer the loaf, seam side down, to a prepared baking sheet, cover loosely with plastic wrap, and let rise at warm room temperature until slightly puffy, about 30 minutes.

In a small bowl, mix remaining milk with the papelón until dissolved; set aside.

Adjust oven rack to middle position and heat oven to 350°F (175 °C). Pierce loaf all over with a fork, making at least 12 holes. Bake for 45 minutes, or until the center registers 185°F on an instant-read thermometer; tent with foil if browning too quickly. Remove loaf from oven, brush with milk glaze, and return to oven. Bake 5 minutes longer, until deeply golden. Let cool at least 20 minutes before slicing.