Portugal’s recently launched Series 5 treasury certificates have failed to attract significant new investment, despite aiming to revitalize the savings instrument. The new certificates underwent alterations intended to boost appeal, but ultimately did not surpass the level of withdrawals. This suggests the changes were insufficient to incentivize increased participation from investors. The launch was intended to encourage savings through a government-backed scheme, but it appears to have fallen short of expectations. Analysts suggest further revisions or alternative strategies may be necessary to stimulate investment. The outcome raises questions about the effectiveness of current policies in attracting savings. This lack of new investment hinders the government's ability to fund public projects through this avenue.