Heat up a metal bowl ( I use the one of my Kitchen Aid) in the oven preheated to 80°C for 15 minutes.
Peel, and cube the shallot. Bring it to a boil together with white wine, water, vinegar, parsley, tarragon, bay leave and the peppercorn. Let it cook until there are 3-4 tbsp of fluid left. Set the pot aside.
Heat up the butter and let it foam until it has a light brown colour. Let the butter tempering next to the stove (90°C).
Add the egg yolks to the preheated bowl, and mix them with the Kitchen aid at high speed, add slowly the prepared reduction.
Add also the brown butter, first slowly than quickly. Egg yolk and butter should combine. Season the sauce hollandaise with chili or cayenne, salt, pepper and netmug.
You can keep the sauce hollandaise warm in the preheated oven (70-75°C) for 10-30 minutes, that is no problem. You can add a little pier of butter so that no skin forms on the sauce.
Serve the sauce hollandaise on preheated plates together with asparagus, potatoes or fish.