Glossy Yellow Pepper Soup with Asparagus Garnish

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8 ounces asparagus, preferably large stalks with tight heads, for garnish

2 1/2 cups water

3 yellow peppers (1 1/3 pounds), halved, stemmed, seeded, and cut into 1-inch pieces

1 large potato (9 ounces), peeled and cut into 1-inch pieces

1 large onion (9 ounces), peeled and cut into 1-inch pieces

3 cloves garlic, peeled

1 teaspoon salt

1 1/2 teaspoons sugar

1/4 teaspoon freshly ground black pepper

2 tablespoons unsalted butter

2 tablespoons extra virgin olive oil