Two cointegration equation result for only a pair of data???

[DanielArmani]

Hi,
I am trying to do cointegration test beween two time series.

I get the following result;

Trace test indicates 2 cointegrating eqn(s) at the 0.05 level

As I have only two time series I expected te have only ONE cointegrating equation, but the test results in TWO, I wonder what that means? Are my time series cointegrated or NOT?

I have to mention that before there was only one cointegrating equation, as I have added more data after a while the result shows Two eqation. I am 100% sure that the data is correct.

Regards
Daniel

[qn3]

I have the same problem, two series.. two cointegrating relations, why nobody can answer this question........