In a mixer fitted with a paddle attachment (or you can use a hand mixer) cream the butter and the cream cheese. Add the sugar and mix. With the mixer on low add the egg yolks one at a time. Add the flour and mix until the dough forms a ball. Do not over mix.
Separate the dough into 5 equal parts. Wrap in plastic or wax paper. Chill for 2 hours.
Preheat oven to 350 degrees F. Line a cookie sheet with parchment paper or grease.
Roll each piece of cookie dough into a circle 1/8-1/4 inch thick. Combine granulated sugar and cinnamon and sprinkle evenly over each circle. Cut each circle into 8 wedges.
Place a scant teaspoon of jam at the wide end of each wedge. Begin to roll each wedge from the wide end to the point. Place each on prepared baking sheet point side down bending ends slightly to form a crescent. Bake for 10-14 minutes, or until golden brown. Remove cookies to rack and allow to cool.
While cookies are baking make glaze by adding boiling water to the confectioner's sugar. Stir until sugar is dissolved. You want the glaze to be the consistency to allow you to drizzle it on the crescents with a spoon or pastry bag. Drizzle over each cookie and allow to cool completely.