1. Rinse a chilled rocks glass with absinthe, discarding any excess, and set aside.
  2. In a mixing glass, muddle the sugar cube, water and the Peychaud’s and Angostura bitters.
  3. Add the rye (and/or cognac), fill the mixing glass with ice and stir until well-chilled.
  4. Strain into the prepared glass.
  5. Twist the lemon peel over the drink’s surface to extract the peel’s oils, and then garnish with the peel.

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