NEW YORK (Reuters) - Bank of America's ( BAC ) investment banking fees are expected to rise 10% to 15% in the second quarter from a year earlier, CEO Brian Moynihan said on Thursday, after an almost two-year industry slump due to market volatility, rising interest rates and geopolitical turmoil.

Trading revenue is also expected to grow at a low single-digit percentage in the current quarter, with equities' strong performance partially offset by broadly flat revenue in fixed income, he told investors at a conference.

Goldman Sachs President John Waldron also said on Thursday that equity capital markets are recovering, but at a slower clip than debt markets.

Wall Street bosses have said they are finally seeing signs of a broader pickup in investment banking as equities trade near record highs, while corporate clients adjust to high interest rates for a longer period.

Consumer spending is still growing but at a slower rate, while U.S. loan demand remains solid but is not robust due to higher borrowing costs, Moynihan said.

BofA, the second largest U.S. lender, expects net interest income, or the difference between what a lender earns on loans and pays out on deposits, to come in at 1% below its forecast of $14 billion in the second quarter.

At its first-quarter earnings call in April, BofA Chief Financial Officer Alastair Borthwick said NII would likely hit a low point in the second quarter before growing again in the second half of the year.

Shares of BofA fell 2% in afternoon trading.