I am just trying to understand what TTM (Term to Maturity) means in Page 8 of this PDF when calculating the discount function. Is it just the vector representing the difference between the time to maturity and the various coupon payments for the bonds? For example, if we are considering 1 year, 2 year, 5 year, 10 year and 30 year bonds and each has semi-annual coupons what would the TTM be?
Thank You