Preheat oven to 350°F (175°C). Grease and flour a 9x5 inch loaf pan.

In a medium bowl, whisk together flour, baking soda, baking powder, nutmeg, cinnamon, and salt.

In a large bowl, cream together the softened butter and sugar until light and fluffy. Use an electric mixer for best results.

Beat in the eggs one at a time, then stir in the vanilla extract.

Gradually add the dry ingredients to the wet ingredients, alternating with the eggnog, beginning and ending with the dry ingredients. Mix until just combined. Do not overmix.

Pour batter into the prepared loaf pan and bake for 50-60 minutes, or until a wooden skewer inserted into the center comes out clean.

Let the bread cool in the pan for 10 minutes before transferring it to a wire rack to cool completely.

While the bread is cooling, whisk together the powdered sugar and eggnog until smooth. Add more eggnog, one tablespoon at a time, if needed to reach desired consistency.

Once the bread is completely cool, drizzle the glaze over the top.