In a bread machine, put milk, egg, butter, sugar, salt, bread flour, and yeast in the order suggested by the manufacturer. Select the Dough cycle and press Start. When dough is mixed, transfer to a greased bowl; cover with plastic wrap and let rise until doubled, about 1 to 1 1/2 hours.

Grease 2 baking sheets or line them with parchment paper; set aside.

Divide dough in half. Roll each piece out into rectangles about 12x16 inches. Spread each dough rectangle with 1 tablespoon softened butter. In a small bowl, combine 2 teaspoons ground cinnamon, 3/4 cup light brown sugar, and 1/2 cup raisins.

Sprinkle cinnamon mixture onto buttered dough. Roll them up jelly-roll fashion, along long side. Pinch edges to seal. Stretch and twist into rings, pinching ends to seal. Place them seam-side down onto prepared baking sheets. Using clean scissors, cut 2/3 way of the way through the loaf at about 1-inch intervals. Spread each cut slightly. you wish to

[At this point, the dough can be refrigerated: cover dough with greased plastic wrap and refrigerate overnight. The next morning, let pastries come to room temperature for about half an hour before baking as directed in step 7.]

Alternately, cover each ring with a clean towel or greased plastic wrap and let loaves rise until double, about 40 minutes.

Arrange two oven racks so that both baking sheets will fit. Preheat oven to 350 degrees F (175 degrees C).

Bake for 10 minutes in preheated; rotate baking sheets. Bake until rings are light brown and the filling is oozing and bubbling, about 10 minutes more.

In a small mixing bowl, combine confectioners sugar, almond extract, and milk until icing is desired consistency. Drizzle icing over warm pastries.