Step 1

Cook asparagus in a large pot of boiling generously salted water until dark green and just crisp-tender, about 30 seconds for pencil-thin stalks and up to 2½ minutes for thicker stalks. Using tongs, immediately transfer asparagus to a large bowl of ice water; let sit 30 seconds. Transfer to a kitchen towel and pat dry; arrange on a platter. Measure 3 Tbsp. cooking liquid from pot and set aside in a small bowl.

Step 2

Blend egg yolks, Parmesan, and oil in a blender on low speed, scraping down sides as needed, until well combined. Increase speed to high and, with motor running, gradually drizzle in reserved hot cooking liquid; blend until smooth and emulsified. Immediately pour fonduta over asparagus.