Rebedding hardware onto teak

[OrangeCrush]

I noticed some moisture under the Cetol on my teak bowsprit, so I removed two anchor rollers and four pulpit bases, stripped the cetol, dried everything out, and applied some Smith's CPES where the hardware go back on. The pics below is what it looked like before the CPES. There was definitely moisture trapped below the metal that took a while to dry out.

Can anyone advise what the best way is to rebed the stainless hardware? Should I apply all the Cetol first and bolt the hardware on top of it? Or should I bolt the hardware onto the "bare" (CPES treated) wood and apply the Cetol around it? Either way, my inclination is to use butyl tape but I also have lifecaulk and 4200 on hand.

In other words, if I apply the Cetol first will it allow moisture to travel laterally beneath the hardware? Or if I rebed the hardware first, will there be an boundary between the hardware and the Cetol where moisture can get in? Which of these is a bigger concern?

If anyone knows the best way to do this please let me know, and thanks very much.