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Steps
1Heat the oven to 325°F with a rack in the lower third. Season the beef generously with salt and pepper.
2Set the dutch oven over medium heat and cook the bacon until crisp and the fat has rendered, about 8 minutes. Lift the bacon out with a slotted spoon and set it aside, leaving the fat in the pot.
3Turn the heat to medium-high. Sear the beef in 2 or 3 batches, without crowding, until deeply browned on at least two sides, about 3 to 4 minutes per side. Move each batch to a plate. Add the olive oil if the pot looks dry.
4Lower the heat to medium. Add the onion and carrots and cook, stirring and scraping up the browned bits, until the onion softens, about 6 minutes. Stir in the garlic and tomato paste and cook for 1 minute until the paste darkens a shade.
5Sprinkle the flour over the vegetables and stir for 1 minute. Pour in the wine, scraping the bottom of the pot, and let it bubble for 3 minutes. Add the broth.
6Return the beef and any juices to the pot along with half the bacon, the thyme and the bay leaves. The liquid should come nearly to the top of the meat. Bring to a gentle simmer, cover, and move to the oven.
7Braise for 2 to 2½ hours, until a cube of beef falls apart when pressed with a fork.
8About 20 minutes before the beef is done, melt 1 tablespoon of the butter in a skillet over medium-high heat. Brown the pearl onions for 6 to 8 minutes, then move them to a plate. Add another tablespoon of butter and cook the mushrooms until golden and their liquid has cooked off, about 8 minutes. Season with salt.
9Pull the pot from the oven and fish out the thyme stems and bay leaves. Stir in the pearl onions and mushrooms and simmer on the stovetop, uncovered, for 10 to 15 minutes, until the sauce coats a spoon. Skim off any excess fat from the surface.
10Stir in the remaining 1 tablespoon of butter, then taste and adjust with salt and pepper.
11While the sauce reduces, boil the egg noodles in salted water until tender, then drain and toss with a little butter or a ladle of sauce.
12Spoon the beef and sauce over the noodles and top with the remaining crisp bacon and the parsley.