Combine the shallots, peppercorns and vinegar in a small non-reactive saucepan and reduce over medium heat until nearly dry. Add the water to the reduction and strain into a clean stainless steel bowl.
Add the egg yolks, lemon juice, cubed butter, salt, pepper and hot sauce. Place the bowl over simmering water, heating and whisking constantly until the sauce thickens and forms a ribbon.
Adjust seasoning and add diced jalapeños. Sauce is ready to serve and may be held for one hour.
Ingredients
1 lb Nature's Best Dairy® Butter, Unsalted, 1-inch cubes