The text is meaningful, clear and wouldn't need to modify every time when we published a new issue. Using the real title of the newsletter Keyword Phrases in Linking Text is a much better option.

There are two reasons:

Keyword rich text is additional attractive to humans. A casual reader may see 'Latest Newsletter' and say so what? By using the title 'Keyword Phrases in Linking Text' I've told the visitor what the article is about and obtainable two hooks that they might be interested in 'keyword phrases' and 'linking text'. As a result the click throughout rate will be higher.

The text that links to a particular page gives Google and other search engines clues as to what the page is regarding. 'Latest Newsletter' provides little information while the actual title of the newsletter contains at least two significant keyword phrases.