Combine ½ cup of warm milk, 2 tablespoons of sugar, and 2 ¼ teaspoons of instant yeast in a small bowl. Stir and let sit for about 5 minutes until foamy.

In a large bowl, mix 3 cups of all-purpose flour and ½ teaspoon of salt. Create a well, then add the yeast mixture, ⅓ cup of sweetened condensed milk, 1 beaten egg, and 2 tablespoons of softened butter. Stir until dough forms and knead for 8-10 minutes.

Shape the dough into a ball, coat in oil, cover, and let rise for 30 to 45 minutes until doubled in size.

Punch down the dough, shape into a loaf or divide into rolls, place in greased pan, cover, and rest for 15 to 20 minutes.

Preheat oven to 350°F. Mix 1 egg yolk and 1 tablespoon of milk for the egg wash. Brush dough with the mixture and bake for 25 to 30 minutes until golden brown.

Cool the bread for about 10 minutes in the pan, then transfer to a wire rack to cool completely before slicing.