Wash asparagus and snap off the woody bases, if necessary. In a microwave-safe 10x6x2-inch baking dish, arrange asparagus with tips toward the center. Add 2 tablespoons water.
Cover the baking dish with vented microwave-safe clear plastic wrap.
Microcook the asparagus on 100 percent power for 9 to 11 minutes or until crisp-tender, turning the baking dish once. Drain and keep warm.
In the top of a double boiler, combine the egg yolks, 1 tablespoon water, lemon juice, pepper, and a dash salt.
Add one piece of the butter or margarine. Place over boiling water (upper pan shouldn't touch water). Cook, stirring rapidly, until the butter melts and the sauce begins to thicken.
Add remaining butter, a piece at a time, stirring constantly. Cook and stir until thicker (1 to 2 minutes). Immediately remove from heat. If sauce is too thick or curdles, immediately beat in 1 to 2 tablespoons hot tap water. Serve over asparagus. Makes 6 servings.