A new feature called Schedule Cleanup in Hotmail allows users to create rules that would move or delete messages automatically.
Login to your hotmail account and select emails (senders) for which the rules need to be created. Then click the down arrow available next to Sweep menu and select Schedule Cleanup from the drop down list.
In the Schedule cleanup dialog select any one of the value then click the OK button. The available values include
- Only keep the latest message from this sender
- Delete all messages older than n days (you can select 3, 10, 30 and 60 days).
- Move all messages older than to specified folder.
This would immediately run the rules on the selected emails. In future if you want to change this rule then you can use Manage Rules option available under Sweep menu.