Bacon-Onion Jam

This jam is a great topper for burgers and steaks.

Bacon-Onion Jam

4 thick slices applewood-smoked bacon, cut crosswise into 1/2-inch strips
1 large red onion, halved and thinly sliced
1/3 cup balsamic vinegar
1/2 teaspoon Dijon mustard
Kosher salt and freshly ground black pepper

In a heavy 12-inch skillet, cook the bacon over medium heat until lightly browned but not yet crisp, about 8 minutes. Transfer the bacon to paper towels to drain. Reserve 2 to 3 tablespoons of bacon fat from the skillet. Pour off the rest of the fat. Add the onion to the skillet, season with a little salt and pepper, cover the pan, and cook for 2 minutes. Uncover, add a splash of water and scrape up any browned bits from the bottom of the skillet. Cover and continue to cook, stirring occasionally, until the onions are soft and beginning to color, about 10 minutes.
Add the vinegar, mustard and 1/3 cup water. Return the bacon to the skillet and bring the mixture to a simmer. Simmer, uncovered, until the liquid has thickened and most of it has been absorbed, 4 to 5 minutes. Transfer to a small bowl and let cool slightly. Cover with plastic wrap and leave at room temperature for up to 2 hours. Warm slightly before serving.