What are the risks of treasury strips?

Can you please elaborate on the potential risks associated with investing in treasury strips? As an investor, I'm keen to understand the downsides of this type of investment, such as liquidity risks, interest rate risks, and credit risks. Additionally, how do treasury strips compare to other types of fixed-income securities in terms of risk? Are there any specific market conditions that can significantly impact the performance of treasury strips? Thank you for your insights.