Bread and Tomato Soup

2 tablespoons olive oil1 large yellow onion, diced4 cloves garlic, minced2 teaspoons fresh thyme leaves8 cups diced tomatoes (about 10 medium tomatoes)2 tablespoons balsamic vinegar1 teaspoon sugar4 cups slightly stale good-quality bread, cubed and refrigerated or frozenSalt and freshly ground black pepper, to taste 1/2 cup fresh basil leaves, torn 1/4 cup grated parmesan cheeseHeat the oil in a large pot over a medium-high heat. Add the onion and saute, stirring often, until just tender, about four minutes. Add the garlic and thyme and saute another two minutes.Add the tomatoes, balsamic vinegar and sugar. Bring to a simmer, stirring frequently. Add the bread, stir, cover the pot, then remove it from the heat. Let stand 20 minutes.Uncover the pot and stir well to break up the bread. Season to taste with salt and pepper. Stir in the basil and cheese. Can be served as is or chilled. Also can be returned to a simmer.Serves four to six.