Roast Beef With Caramelized Shallots

• boneless rib-eye roast↗5 3⁄4 lbs

  tied, if desired (with fat)

• salt and pepper

  to taste

• shallots↗2 lbs

  peeled and halved if large

• light brown sugar↗2 teaspoons
• balsamic vinegar↗2 teaspoons
• dry red wine↗1 cup
• Dijon mustard↗2 tablespoons

Step-by-step instructions

1. 1

   Preheat oven to 500 degrees F. Season beef with salt and pepper to taste. Place in large roasting pan; roast until golden brown, about 30 minutes.

2. 2

   Reduce oven temperature to 325 degrees F. Place shallots around beef; roast until an instant-read thermometer inserted into thickest part of beef registers 130 degrees for medium-rare, 1 to 1 1/4 hours more, turning shallots with tongs after about 30 minutes.

3. 3

   Transfer beef to a plate; tent with foil. Transfer shallots to a shallow bowl (continue cooking if not golden brown). Toss with sugar and vinegar; season with salt and pepper. Cover with foil to keep warm.

4. 4

   Pour off fat from pan. Add wine; cook over medium heat until syrupy, scraping bottom of pan, 2 to 4 minutes. Add 2 cups water; cook until reduced by half, 4 to 8 minutes. Strain into a small bowl; whisk in mustard and any juices from beef. Season with salt and pepper; serve with beef and shallots.