Global markets due for a short term correction: Robert Parker

The global markets may be due for a correction in the near term and may be ignoring some risks that loom on the horizon. Robert Parker of Credit Suisse feels that geopolitical risk along with excess optimism over central bank action could lead the markets lower in September. However, Parker expects this to be a short term correction of upto 10 per cent after which markets may resume their upside as valuations start to look appealing. Credit Suisse also feels that the Indian markets are looking over-stretched after the recent gains.