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Bring a large pot of water to a boil. Add fettuccine and cook for 3 minutes less than the package directions specify. Add asparagus and continue cooking until the pasta and asparagus are just tender, about 3 minutes more. Reserving 1/4 cup of the cooking water, drain the fettuccine and asparagus and return to the pot. Stir in peppers and pesto. Cover to keep warm.
Heat oil in a large skillet over medium heat. Add shrimp and cook, stirring occasionally, until pink, about 3 minutes. Add wine, increase heat to high and continue cooking until the shrimp are curled and the wine is reduced, about 3 minutes. Add the shrimp and the reserved cooking water to the pasta; toss to coat. Season with pepper and serve immediately.