They have Specialized innertubes in there, thought they were supposed to be pretty good?
No idea, I've had Ritcheys etc.. that have been bad, but to be honest el cheapos that have also been good.
Mark the rim & tyre where it bulges
Spin the tyre around the rim 45 degrees and pump up to 60PSI again, if the bump has moved with the tyre then it's that at fault possibly. If it is where the mark on the rim is, then it could be the inner tube (checked by putting it in the other way around and you know the distance it would be from the valve, keeping the tyre in it's original place)
or something at that point on the rim (rim tape riding up stopping it from seating)
I also part pump it up then wiggle around the tyre pulling it up and seeing if it seated, but that help more on retro tyres. My Schwalbes seem to just pop into place as they're built better.
I'm sure others will have ideas