We report on a pump -probe study of CoMoCAT nanotube suspensions with narrow chirality distribution. Visible pump pulses and a white light continuum are used for resonant excitation of the strongest dipole allowed E 22 subband exciton in the semiconducting (6, 5) tube and for broadband probe of the resulting spectral transients between 1300 nm and 480 nm, respectively. Transient spectra show signatures of both photobleaching (PB) and photoabsorption (PA) with practically identical decay-but slightly different risetimes. The experiments reveal that apparent variations of decay rates at different wavelengths do not reflect dynamics of different relaxation processes but are a consequence of the superposition of PB and blue-shifted PA response.