0.5 teaspoon black peppercorns – lightly crushed
0.25 cup white wine vinegar
0.25 cup dry white wine
1 tablespoon water
3 large egg yolks – at room temperature
2 tablespoons tarragon leaves – finely chopped
1 tablespoon chervil leaves – finely chopped
0.25 teaspoon fine sea salt
Instructions
Melt the unsalted butter in a small saucepan over low heat until fully melted and warm (120–140°F). Keep warm off heat.
Combine the shallot, tarragon stems, black peppercorns, white wine vinegar, and dry white wine in a small saucepan. Bring to a gentle simmer and reduce over medium heat until the liquid measures about 2 tablespoons and looks syrupy, 5–7 minutes. Remove from heat to cool slightly.
Prepare the tarragon leaves and chervil leaves by finely chopping them; reserve to finish.
Set up a bain-marie: bring about 1 inch of water to a simmer in a medium saucepan and place a heatproof bowl over it so the bowl does not touch the water. Strain the reduction into the bowl, pressing on the solids; add the egg yolks and the water. Whisk constantly over the gentle simmer until thick, pale, and tripled in volume, 3–5 minutes, forming ribbons and reaching 150–155°F.
Remove the bowl from the heat and very slowly whisk in a thin stream of it until fully emulsified, starting with drops and increasing to a steady thread, 3–4 minutes. Whisk in the fine sea salt.
Fold in the reserved herbs. Serve immediately, or hold warm for up to 30 minutes in a barely warm spot (120–130°F), stirring occasionally.