Make It
Step 1
Combine evaporated milk, butter, sugar and bouillon in a small saucepan over medium heat. Stir constantly until butter is melted and sugar is dissolved. Remove from heat; let cool to room temperature.
Step 2
Combine water and dry yeast in a small bowl. Set aside for 10 minutes to activate yeast.
Step 3
Add flour to the mixing bowl of a stand mixer. Make well in the center of the flour and add yeast mixture, milk mixture and 1 beaten egg. Knead on low speed with dough hook attachment until dough is elastic and no longer sticky.
Step 4
Place dough in a large, lightly oiled bowl. Cover with plastic wrap and set in a warm area for 1 ½ to 2 hours. Dough should double in size.
Step 5
Transfer dough to a lightly floured surface; knead and roll out to a 15 x 12-inch rectangle.
Step 6
Spread ham and raisins evenly over rolled out dough, keeping a ½-inch dough border. Arrange a row of olives close to border and another row closer to the middle (this will ensure every slice has at least two pieces of olive).
Step 7
Roll dough up into a loaf. Place on baking sheet. Wet fingers with lukewarm water and spread on seam and sides, pinching sides shut and sealing the seam. Cover roll with plastic wrap and a towel and let rest for 1 hour.
Step 8
Preheat oven to 350° F.
Step 9
Brush top of loaf with remaining beaten egg; pierce loaf with fork. Bake for 40 to 45 minutes or until bread is golden brown. Remove from oven; let cool for 15 minutes and serve.
Add a layer of pancetta or bacon for a variation of flavor. For a spicy kick, add pickled jalapeños.