How to Make It
In a medium skillet, combine the asparagus and 1/2 cup of water. Bring to a boil over moderately high heat and cook until the water is evaporated, about 5 minutes.
Meanwhile, puree the red peppers in a food processor. Add the mayonnaise and process until blended. Season with salt and black pepper and transfer to a small bowl.
Add the oil to the asparagus and sauté over moderately high heat, turning until lightly colored, about 2 minutes. Season with salt and pepper. Transfer to a platter and serve with the red pepper mayonnaise.