Cook asparagus until tender crisp; drain and set aside. Lightly grease 9"x13" (3.5 L) baking dish; place half the bread in bottom. Top with half the cheese, all the asparagus and ham; cover with remaining bread slices. In a large bowl beat eggs; add milk, onion, salt, mustard and hot sauce. Pour over bread. Cover and refrigerate overnight. Uncover and sprinkle with remaining cheese and bake in 350°F (180°C ) oven for 60 to 65 minutes or until knife inserted in middle comes out clean. Let stand 10 to 15 minutes before cutting to serve.
Variation: Substitute Swiss cheese for cheddar, 1/2 cup (125 ml) sliced green onions for red onions, and add Worcestershire sauce and hot sauce to taste to the egg mixture. Garnish and serve.