Rum Glazed Eggnog Monkey Bread

1/2 cup water
2 eggs
1/4 cup butter or margarine, softened
3 1/2 cups bread flour
1/2 cup granulated sugar
1 teaspoon salt
1 teaspoon ground nutmeg
1 1/2 teaspoons yeast (recommends bread machine yeast)
Rum Glaze (recipe follows)
1/2 cup chopped pecans, optional

Measure carefully, placing all ingredients except rum glaze and pecans in bread machine pan in the order recommended by your machine manufacturer. Select Dough/Manual setting. Do not use delay setting.

Grease 12 cup Bundt pan. Prepare rum glaze. Pour half of the glaze into the pan. sprinkle with 1/4 cup of pecans.

Remove dough from pan using lightly floured hands. Divide into 30 equal pieces; arrange in layers over glaze in pan. Pour remaining glaze over dough sprinkling remaining pecans over this. Cover and let rise in warm place about 45 minutes or until double. Dough is ready when indentation remains when touched.

Heat oven to 350 degrees F. Bake 30 to 40 minutes or until golden brown. Let stand 5 minutes. Turn upside down onto serving plate; leave pan over bread 1 to 2 minutes to allow glaze to coat bread.

Serve warm.

NOTE: If you don't have a Bundt pan, use a 10 x 4-inch angel food cake pan lined with aluminum foil.

Rum Glaze
1/2 cup packed brown sugar
1/2 cup granulated sugar
1 cup whipping (heavy) cream
1 teaspoon rum extract