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Pre-heat the pressure cooker using the BROWN setting and heat a skillet over medium-high heat.
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Add the bacon and cook until crispy. Remove with a slotted spoon and set aside.
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While the bacon is cooking, sear the beef slices in the skillet on the stovetop, seasoning with salt and pepper. Brown the beef in batches and then remove to a side plate.
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Add the onions to the skillet and cook until they start to brown. Stir in the brown sugar and caramelize the onions a little longer. Deglaze with the red wine vinegar, scraping up any brown bits that form on the bottom of the skillet with a wooden spoon.
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Layer the beef and onions in the pressure cooker. Pour in the beer and beef stock and add the thyme and bay leaf.
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Spread the Dijon mustard on the bread slices and lay the bread slices on top of the beef and onion mixture, mustard side down. Lock the lid in place.
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Pressure cook on HIGH for 15 minutes.
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Let the pressure drop NATURALLY and carefully remove the lid. Stir to break up the bread, which will help to thicken the braising liquid a little. Return the cooked bacon to the stew and season to taste with salt and pepper. Serve with boiled or mashed potatoes, using a few thyme sprigs for garnish.