How to Make It
In a 1- to 2-quart pan over high heat, stir broth, Merlot, jam, and pepper until boiling, then boil until reduced to 1/3 cup, about 7 minutes total.
Meanwhile, unroll pancetta and wrap a slice around the rim of each steak. Broil steaks on a rack in a pan 4 to 6 inches from heat until browned, 6 to 7 minutes. Turn steaks over and broil until tops are browned, 6 to 7 minutes more for rare. Cook longer, if desired.
Put steaks on warm plates and spoon sauce over them. Add salt to taste.