In a small bowl, whisk together warm water, yeast, and 1 tsp of sugar. Cover and rest for 20 minutes.
In a large bowl, add the yeast mixture, 3 tbsp of sugar, salt, butter, and egg. Mix to combine. Then, slowly incorporate flour into the yeast mixture, adding the milk slowly as you go. A dough ball will begin to form. Turn the dough onto a clean floured surface and knead 1 - 2 minutes. Shape into a ball and cover with a clean dish towel. Let dough rest for 1½ hours.
Place dough on a floured surface and roll out into a 18 x 10 x ½ inch thick rectangle. Along the entire side of one of the long edges, cut slits into the dough 1 inch wide and 2 inches long.
Evenly distribute the ham, then scatter the olives and raisins over it. Firmly roll up like a Swiss roll starting from the long edge without the slits in it. Roll until you meet the edge with the slits and tuck the ends under. Fold each slit up slightly pressing them into the roll.
Heat oven to 400℉. Transfer the bread to a greased baking sheet, with the slit side up. Bake fore 20 to 25 minutes or until slightly brown.
Meanwhile, mix together 1 tsp of sugar with 2 egg yolks until combined. Remove the bread from the oven, and brush this mixture over the top. Bake for another 5 minutes.
Remove from oven and allow to completely cool before slicing. Store in the refrigerator.