1Heat oven to 350ºF. Grease and flour loaf pan, 9x5x3 inches.
2Beat sugar, butter, rum, vanilla and egg yolks in large bowl with electric mixer on low speed 30 seconds, scraping bowl constantly. Beat on high speed 5 minutes, scraping bowl occasionally. Beat in flour, baking powder, salt and nutmeg alternately with milk on low speed. Pour into pan.
3Bake 50 to 60 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pan. Cool completely on wire rack. Store covered at room temperature up to 2 days.