Warm Asparagus and Bacon Toast with Red Pepper-Shallot Vinaigrette

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12 ounces thin or medium asparagus, trimmed

4 slices bacon, halved crosswise

4 (3/4-inch-thick slices) thick-crusted country bread

2 tablespoons olive oil

1 clove garlic, minced

4 slices mozzarella or Monterey Jack

Red Pepper-Shallot Vinaigrette:

1/3 cup olive oil

3 tablespoons sherry vinegar

3/4 teaspoon salt

1/4 teaspoon freshly ground black pepper

1/4 cup minced fresh chives

1/4 cup pitted kalamata or black olives, chopped

3 shallots, thinly sliced

1 red bell pepper, roasted, peeled, and cut into thin strips