I get mine to a Hotmail address and it has been fine. Hotmail will block HTML in an email address unless it is marked as a safe address. This is usually indicated by a gray box where graphics should be and on the top there are some optioms.
On the very top of the message above the subject is a yellow box that has the following:
#MsgContainer a {cursor: default;} Attachments, pictures, and links in this message have been blocked for your safety. Show content
If you click show content it will show you the content but acts as a temporary allow. This means that next month you will be presented with the same problem.
A little lower, just below the from information you will see:
You may not know this sender.Mark as safe|Mark as junk
If you click
Mark as safe future attachments from the same sender address with HTML will show all of the code. If you click
Mark as junk all future email form that address will be directed to the junk folder.
I can't say for certain this is your problem but it is the first thing that comes to mind.
ETA: OK, I just attempted to open the most recent newsletter and it is indeed actually blank. The above seems like it isn't the issue but just in case anyone is having other Hotmail issues getting email I will leave it.