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Combine milk and cream in a medium sized heavy pot.
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Bring milk mixture to simmer.
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Remove from heat.
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Whisk egg yolks and sugar in separate bowl until pale.
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Gradually whisk small amounts of the hot milk mixture into yolk mixture.
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Return custard to saucepan. Stir over low heat until custard thickens and coats the back of a spoon, about 5 minutes.
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Strain sauce into bowl, if needed.
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Cover and chill.
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Creme Anglaise can be made up to one day in advance.
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Serve french toast with a drizzle of the creme.