1) a situation that is so involved and interwoven which is basically impossible to be fully extricated
2) Something which is so obvious or basically impossible to avoid
3) already reflected in a stock's market price by the expected information such as projected earning or unconfirmed news report
A serious global recession is baked in the cake
The dilemma of long-lasting unemployment rate is baked in the cake
The interest hike at the Fed's next meeting is baked in the cake
Prices shown in USD.
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